Retail sales in China dropped significantly

Industrial production and retail sales in China dropped significantly as a result of the precautionary measures introduced in the first two months of the year as a result of the new type of coronavirus epidemic that led to widespread stoppage in manufacturing.

In January-February, industrial production fell 13.5 percent year-on-year, much more than analysts predicted a contraction of 3 percent. This is the first time that Chinese industry production has fallen since the data were released. (MTI)