If China is a benchmark for the scale of economic disruption caused by the coronavirus, the impact has been colossal. Industrial production declined by 13.5% year-over-year in January and February. Retail sales and auto sales declined by 20.5% and 37.0%, respectively, during the same period. Now that the peak of the outbreak seems to have passed in China, its economic growth is starting to recover, albeit at depressed levels.
Gaining Perspective