Coronavirus News Asia

China’s industrial output, retail sales contract

China’s industrial production, retail sales and investment all contracted in the first two months of the year after the coronavirus epidemic wreaked havoc on the economy, official data showed Monday.

Industrial production for January and February shrank 13.5%, the first contraction in about 30 years. This was markedly worse than a Bloomberg poll of analysts which forecasted a 3% drop on-year.

Retail sales plummeted 20.5% on-year during the same period, after rising 8% in 2019. Analysts had expected a 4% fall.

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