China kicks off the year on strong note as retail, industrial data tops expectations

China reported better-than-expected economic data for the first two months of the year. Retail sales increased by 5.5%, exceeding the forecasted 5.2% growth. Industrial production grew by 7%, compared to the estimated 5% growth. Fixed asset investment rose by 4.2%, surpassing the projected 3.2% increase. Online retail sales of physical goods also saw a year-on-year increase of 14.4%. However, investment in real estate declined by 9% during the same period. The unemployment rate for cities was 5.3% in February.