Factory output in China increased in speed during the first two months of 2022 and retail sales beat expectations, despite the country struggling with a recurrence of COVID-19 cases, a floundering property market and growing global uncertainties, reports Nikkei Asia. Industrial output rose 7.5% in January-February from a year earlier, the fastest pace since June 2021 and up from a 4.3% increase seen in December, official data showed on Tuesday. That compared with a 3.9% surge in a Reuters poll.
Retail sales in January-February grew 6.7% year on year amid rising demand during the Lunar New Year holidays, having increased 1.7% in December. The figure—also the quickest since June 2021—beat expectations of a 3.0% increase in the poll.
Fixed asset investment rose 12.2% on year compared with the 5.0% increase tipped by the Reuters poll and 4.9% growth in 2021. The figure was the highest since July last year.