China manufacturing PMI slumped for a third straight month in February

China manufacturing activity contracted for a third straight month in February, suggesting a sustained deterioration in the economy, despite government efforts at stimulus.

The official manufacturing purchasing managers' index (PMI) for February came in at 49.2, narrowly missing the forecasted print of 49.5. 

That is the third straight below-50 reading. China’s exporters have been struggling, courtesy of the US-China trade war in 2018.