Chinas shaky economic recovery from the coronavirus pandemic is gaining strength as consumers return to shopping malls and auto dealerships while the United States and Europe endure painful contractions.
(AP Photo/Andy Wong)BEIJING – China’s shaky economic recovery from the coronavirus pandemic is gaining strength as consumers return to shopping malls and auto dealerships while the United States and Europe endure painful contractions.
It is the only major economy that is expected to grow this year while activity in the United States, Europe and Japan shrinks.
The economy “continued the steady recovery,” the National Bureau of Statistics said in a report.
“China’s recovery in private consumption is gathering momentum,” said Stephen Innes of AxiCorp in a report.