China's industrial production rises for the first time this year
China’s factory output rose for the first time this year as the world’s second-largest economy slowly emerged from its coronavirus lockdown, although consumption remained depressed amid increased job losses.
Industrial production climbed 3.9% in April from a year earlier, data showed on Friday, following a 1.1% fall in March.
After months of lockdowns, China is reopening its economy as the outbreak on the mainland comes under control. The production of oil, coal, metals and electricity all increased as plants restarted operations in April.
However, China continues to face major challenges in its services sector, particularly retail, and as the pandemic sweeps the rest of the globe, affecting other major economies and trading partners, Reuters reported.