Strict lockdowns and virus control measures helped the world’s second-largest economy bounce back from Covid-19 and clock a full-year economic growth of 2.3%.
BEIJING: China’s industrial output and retail sales surged in the first two months of the year, official data showed Monday, underscoring the country’s recovery from the coronavirus pandemic.
Industrial production spiked a forecast-busting 35.1% on-year, the biggest bounce in decades, while retail sales also beat expectations with 33.8% growth.
But the National Bureau of Statistics said the latest surge was in part due to distortions from last year’s “low base in the same period”.
Both indicators plunged in the early months of 2020 after Covid-19 surfaced in central China and spread rapidly around the country.
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