The coronavirus has dealt the world’s second largest economy a record blow. 🔐
SHANGHAI — The coronavirus dealt the world’s second largest economy a record blow, with key data on factory output and retail sales showing sharp plunges, following a viral outbreak and aggressive containment measures that kept much of the country’s population away from work for prolonged periods.
Retail sales plunged 20.5 percent during January and February over the same period in 2019, while industrial output was down 13.5 percent, and fixed asset investment — a measure of expenditure on items including infrastructure, property, machinery and equipment — fell by nearly 25 percent, according to the National Bureau of Statistics.
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