China’s January-February industrial output advances year-on-year

China had monitored its industrial output advance an annualized 35.1% from January to February, official data showed on Monday. The record came faster than the 7.3% reading seen in December, indicating that the jump had contributed to the country’s emergence from the coronavirus drag.

The figure greatly breached the 30.0% year-on-year increase expected by analysts in a Reuters poll. Retail sales, on the other hand, recorded a 33.8% jump as they advanced higher than the 32% prediction rendered by analysts.

As for fixed asset investment, it grew 35% in the first two months of 2021. While it came slower than the 40.0% decline expected by economists, it still came larger than the 2.9% expansion seen in 2020. In addition to this, the record was a few ticks higher than the 24.5% record seen from the same period a year ago.