China GDP Contracts 9.8% In Q21



China's gross domestic product was down a seasonally adjusted 9.8 percent on quarter in the first quarter of 2020, the National Bureau of Statistics said on Friday.

That was in line with expectations following the 1.5 percent gain in the three months prior.

On a yearly basis, GDP sank 6.8 percent - missing expectations for a drop of 6.0 percent following the 6.0 percent increase in the previous three months.

The bureau also said that fixed asset investment tumbled an annual 16.1 percent in March, shy of forecasts for a decline of 15.0 percent following the 24.5 percent plunge in February.

Industrial production dipped 1.1 percent on year, beating forecasts for a fall of 5.8 percent after dropping 13.5 percent in the previous month.

Retail sales plunged 15.8 percent on year, missing forecasts for a fall of 10.0 percent after skidding 20.5 percent a month earlier.

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