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China says impact from coronavirus outbreak on economy to decrease in Q2

[BEIJING] China expects the impact from the coronavirus outbreak on the economy to decrease in the second quarter and the pressure on the country's unemployment would ease as economy improves, the statistics bureau said on Monday.

Authorities are still confident of achieving the full-year economic growth target, said bureau spokesman Mao Shengyong, adding that the economy is expected to show significant improvement in March.

China's nationwide survey-based jobless rate rose to 6.2 per cent in February, compared with 5.2 per cent in December, the latest official data showed.

China's economy has suffered a heavy blow as the epidemic has paralysed activity, with industrial output contracting at the fastest pace in 30 years and fixed-asset investment falling for the first time on record.

REUTERS