China: year-on-year industrial output and retail sales exceed forecasts, 2% economic growth expected in 2020

(Reuters) China will see its economy expand by about 2% this year as it has got the coronavirus pandemic under control, China’s central bank governor Yi Gang said on Sunday, 18 October 2020, signalling confidence about the prospects of a domestic demand-driven recovery. “The Chinese economy remains resilient with great potential. Continued recovery is anticipated, which will benefit the global recovery,” he reportedly said.

(Reuters) Meanwhile data released on Monday, 19 October 2020, showed that China’s industrial output in September rose 6.9% from a year earlier, and retail sales were up 3.3% on the same time a year earlier – with both figures exceeing analysts’ forecasts.