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chinese economy

The outbreak of coronavirus this year has had a devastating impact across the globe, inflicting severe human and economic damage.

In China, the place where the virus originated, the economic situation is drawing great attention and concern.

China suffered the first economic hit from the virus as its government rushed to address the situation by announcing widespread shutdowns and travel restrictions in order to stop the spread of the virus.

Chinese Economic Indicators Plummeting

With factories and offices around the country closed for weeks, the economic toll became clear in the first economic data released for February.

The manufacturing sector fell to its lowest level on record over February as a result of the drop-in activity. The industrial output reading highlighted weakness too, falling 13.5% over January and February.

The economic toll of COVID-19 in China has been widespread. Retail sales have fallen 20.5% across the first two months of the year. Fixed asset investment has also...

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