China March industrial output falls 1.1% year-on-year, better than forecast; first-quarter investment slides 16.1%

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China's industrial output fell a less steeper-than-expected 1.1% in March from a year earlier, data from the National Bureau of Statistics showed on Friday, as the coronavirus crisis and strict containment measures severely disrupted the world's second-largest economy.

FILE PHOTO: A man works at a furnace at a steel plant of Dalian Special Steel Co Ltd. in Dalian, Liaoning province, China July 13, 2018, Picture taken July 13, 2018. REUTERS/Stringer/File Photo

Analysts polled by Reuters had expected industrial output to fall by 7.3% in March, moderating somewhat after plunging 13.5% in the first two months of the year. Fixed asset investment dropped 16.1% in January-March, worse than a forecast 15.1% drop. The gauge had sunk 24.5% in the first two months, the first contraction on record.

 

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