China is on track of strong recovery after the pandemic
Industrial production in China grew by 7 percent in November compared to a year earlier, according to the country’s National Statistical Office. Thus, the strong recovery continues, after the massive Chinese industry collapsed sharply earlier this year due to the COVID pandemic. In addition to strong domestic demand, many medical supplies and electrical appliances are produced for export markets.
The figure corresponds to the expectations of economists. Over the period since the turn of the year, industrial production is now 2.3 percent higher than a year earlier.
Shopkeepers also sold more than a year earlier in November. According to the Chinese statistical office, retail sales increased by 5 percent on an annual basis. Sales are still 4.8 percent lower throughout the year than in the first 11 months of 2019.