China industrial output rises 35.1% year-on-year in January-February

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China industrial output rises 35.1% year-on-year in January-February​

Mon, March 15, 2021, 10:16 AM·1 min read

FILE PHOTO: Worker wearing a face mask works on a production line manufacturing bicycle steel rim at a factory in Hangzhou, Zhejiang

BEIJING (Reuters) - China's industrial output grew 35.1% in January-February from a year ago, faster than the 7.3% gain in December, official data showed on Monday, adding further momentum to a recovery that is set to underpin solid economic growth.

The figure beat a 30.0% on-year surge expected by analysts in a Reuters poll.

Retail sales increased 33.8% from a year earlier in the first two months, compared with a rise of 32% tipped by analysts, marking a significant jump from 4.6% growth in December and after a 20.5% contraction for January-February of 2020.

Fixed asset investment increased 35% in the first two months from the same period a year earlier, slower than a forecast 40.0% jump. That compared with 2.9% on-year growth in 2020, and a 24.5% plunge in January-February last year.

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