Nbs

Last Saturday, China's National Bureau of Statistics (NBS) revealed that the widely-watched indicator of the country's economic activity slumped to a record low of 35.7 in February from 50.0 in January. This was the lowest since January 2005, when the index was first released.

In addition to the manufacturing data, China's non-manufacturing services sector activity also posted its deepest contraction on record, dropping to 29.6 from 54.1 in January, according to another survey by China's NBS.