Chinese Economy Craters in First Two Months of 2020 Due to Coronavirus Outbreak
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(Worthy News) – New economic data released Monday shows China’s economic activity in all areas plunged in the first two months of 2020 as the novel coronavirus outbreak first erupted and took hold in the world’s second-largest economy.
China’s National Bureau of Statistics said the country’s industrial output fell by a whopping 13.5 percent in January and February compared to the same period a year earlier. Fixed-asset investment, which measures spending on such items as infrastructure, property, and equipment, collapsed by 24.5 percent.
Meanwhile, retail sales fell by 20.5 percent, while unemployment rose to a record 6.2 percent in February. [ Source: VOA News (Read More…) ]
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