The decline is fueling concerns that China's economy will contract in the first quarter – the first such contraction since the end of the Cultural Revolution, in 1976.
mandag 23. mars 2020
Coronavirus Causes A Dramatic Collapse Of China’s Economy
A series of newly released economic indicators show a dramatic decline in China’s economy due to the coronavirus outbreak. The collapse in industrial production, retail sales and fixed-asset investment was much more serious than analysts had expected. The data, released Monday, can serve as a warning to other countries as to the coronavirus’ toll on the economy. Industrial production, a gauge of manufacturing, mining and utilities activity, dropped 13.5% in January and February compared with the same period last year. The indicator fell for the first time since records began, in July 1998.
The decline is fueling concerns that China's economy will contract in the first quarter – the first such contraction since the end of the Cultural Revolution, in 1976.
The decline is fueling concerns that China's economy will contract in the first quarter – the first such contraction since the end of the Cultural Revolution, in 1976.
