Beijing, Newly released economic indicators show a dramatic decline in China's economy amid the coronavirus outbreak, according to dpa.

Industrial production, a gauge of manufacturing, mining and utilities activity, dropped 13.5 per cent in January and February compared with the same period last year, according to data released Monday.

This was the first decline on record, fuelling expectations that China's economy would contract in the first quarter - for the first time since 1976.

China's retail sales collapsed 20.5 per cent in the first two months of the year, according to the National Bureau of Statistics.

Meanwhile, fixed-asset investment, which measures expenditure on things like infrastructure and property, plummeted 24.5 per cent.

Source: Saudi Press Agency

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