China's economic activity surged to start year - MarketWatch

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BEIJING--China's economic activity surged in January-February from a year earlier when the coronavirus pandemic paralyzed business and production.

China's industrial output, investment and consumption in the first two months of the year were all higher compared with the same period in 2019, before the world's second largest economy was hit by Covid-19, according to data released by the National Bureau of Statistics on Monday.

Industrial output in January-February rose 35.1% from a year earlier, according to data released by the National Bureau of Statistics, beating economists' expectations of a 30.5% increase. Compared with January-February 2019, industrial output increased 16.9%, said the statistics bureau.

Retail sales, a major gauge of China's consumption, soared 33.8% in the first two months of the year, higher than the 31.3% expected by economists polled by The Wall Street Journal. Retail sales were 6.4% higher compared with the same period in 2019, official data showed.

Fixed-asset investment in the first two months of the year also jumped 35.0% from a year ago, lower than the expected 38.2% growth. It increased 3.5% from January-February 2019, said the statistics bureau.

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China's economic activity surged to start year - MarketWatch
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