⚡Crypto Alert : Altcoins are up 28% in just last month! Unlock gains and start trading now - Click Here

China's Industrial Production, Retail Sales Beat Expectations

China’s Industrial Production, Retail Sales Beat Expectations

Posted Monday, March 15, 2021 by
Arslan Butt • 1 min read

The Chinese economy seems to be posting a great recovery in the wake of the coronavirus crisis that brought it to a shutdown early last year. The latest figures for industrial production and retail sales across the world’s second largest economy have registered a sharp increase, bolstering investor confidence about the outlook for the trade leader.

China’s industrial production surged by 35.1% YoY during January and February, a sharp spike in comparison with December’s 7.3% increase. The data came in stronger than economists’ expectations, which were for a rise by 30% for the period instead.

In addition, Chinese retail sales also posted a strong increase, rising by 33.8% YoY in the first two months of the year. The pace of growth was better than in December when retail sales were up by 4.6% and even beat economists’ forecast for a rise by 32% instead.

However, the unemployment rate across China ticked higher during January and February, coming in at 5.5% against the previous month’s 5.2% reading. Economists have cautioned that the real unemployment figures could be much higher than the government data due to the high number of workers that are employed unofficially and unaccounted for.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
Comments
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments