China says impact from coronavirus outbreak to decrease in Q2

MG News | March 16, 2020 at 01:45 PM GMT+05:00

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March 16, 2020: China expects the impact from the coronavirus outbreak on the economy to decrease in the second quarter, the statistics bureau said on Monday (March 16).

Authorities are still confident in achieving the full-year economic growth targets, said bureau spokesman Mao Shengyong, adding that the economy is expected to show significant improvement in March.

China's nationwide survey-based jobless rate rose to 6.2% in February, compared with 5.2% in December, the latest official data showed.

China's economy has suffered a heavy blow as the epidemic has paralysed activity, with industrial output contracting at the fastest pace in 30 years and fixed-asset investment falling for the first time on record.

Reuters

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