Expert views: China's first quarter GDP posts first decline on record as virus shuts down economy [Reuters]
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Source: Reuters
Expert views: China's first quarter GDP posts first decline on record as virus shuts down economy (Reuters) - China’s economy shrank 6.8% in January-March from a year earlier, official data showed on Friday, the first such decline since at least 1992 when quarterly gross domestic product (GDP) records began. The historic slump in the world’s second-largest economy comes after efforts to contain the coronavirus, which first emerged in China late last year, shut down factories, transport and shopping malls. * Q1 GDP -6.8% y/y (f’cast -6.5%, Q4 +6.0%) * Q1 GDP -9.8% q/q (f’cast -9.9%, Q4 +1.5%) * March industrial output -1.1% y/y (f’cast -7.3%, Jan-Feb -13.5%) * March retail sales -15.8% y/y (f’cast -10%, Jan-Feb -20.5%) * Jan-March fixed asset investment -16.1% y/y (f’cast-15.1%, Jan-Feb -24.5%) * Jan-March property investment -7.7% y/y (Jan-Feb -16.3%) MASAAKI KANNO, CHIEF ECONOMIST, SONY FINANCIAL HOLDINGS, TOKYO “It was already known that there would be a sharp contraction in the fir
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