BUSINESS China's retail sales up 33.8% in the first 2 months

BUSINESS

China's retail sales up 33.8% in the first 2 months

China Daily

10:04, March 15, 2021

A woman buys pineapples in a supermarket in Beijing. [Photo/IC]

China's economy continued to recover in the first two months of the year, with major economic indicators surging from last year's low comparison base, the National Bureau of Statistics said on Monday.

After deducting the base effect, major indicators grew steadily, with the economy performing within the reasonable range, the NBS said.

The country's industrial output rose by 35.1 percent year-on-year in the January-February period, compared with 7.3 percent in December, the NBS said.

Retail sales grew by 33.8 percent in the first two months on a yearly basis, compared with 4.6 percent in December, the bureau said.

Fixed-asset investment rose by 35.0 percent year-on-year in the January-February period, up from 2.9 percent for the whole year of 2020.

The surveyed urban jobless rate came in at 5.4 percent in January and 5.5 percent in February, versus the government's annual control target of 5.5 percent, the bureau said.

Despite improvements, the NBS said the Chinese economy still faces multiple challenges including the lingering uncertainties surrounding the COVID-19 pandemic and global economic situation.

Domestically, the recovery has remained unbalanced and the foundation of recovery is "not yet solid", the bureau said in a statement.


Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue