The Chinese economy has suffered greatly from the strict corona measures. But now it seems to be getting better.
The first economic figures after China abandoned its strict corona policy show a moderate recovery in the economy. Industrial production and retail trade picked up at the beginning of the year. The unemployment rate rose slightly.
The industry increased production in January and February by 2.4 percent from the same period last year, government data showed on Wednesday. In December it had risen by 1.3 percent. Retail sales rose 3.5 percent in the first two months after falling 1.8 percent in December.
In China, economic data for January and February are often combined to smooth out Chinese New Year distortions.
The Chinese economy suffered last year from the government’s corona requirements. After they have been loosened, there are signs of improvement. However, the weak real estate market is considered a negative factor.
Source: Stern
