China Reports Economic Rebound But Warns of Risks To Recovery
- Retail sales expanded 3.5%, after declining in previous months
- Investment climbed, while unemployment rose around holidays
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China reported a rebound in consumer spending, industrial output and investment this year after coronavirus restrictions were dropped, while warning of risks to the economy’s recovery as unemployment rose and real estate investment continued to slump.
Retail sales rose 3.5% in January and February compared to the same period last year, the National Bureau of Statistics said Wednesday. Industrial output rose 2.4% and fixed-asset investment grew strongly, as local governments increased infrastructure spending to spur the recovery. However, the unemployment rate increased, pointing to weakness in domestic demand.