Q1 Data Shows an Unprecedented Contraction in China’s Economy - more optimistic outlook for Q2
Shaoyan Sun and Guofeng Wu - 22 June 2020
Amid gloomy speculation on China’s first-quarter economy, the National Bureau of Statistics (NBS) unveiled the Q1 data on April 17, 2020. Although in line with the predictions of many economists, the 6.8% contraction in GDP during the first quarter of 2020 is the first quarterly decline on record at least since the 1992 when the official quarterly GDP records started. All three sectors, the primary, secondary, and service sectors, took a tumble in the past quarter, down by 3.2%, 9.6%, and 5.2%, respectively.