OREANDA-NEWS. According to the National Bureau of Statistics (NBS) of China, the country’s gross domestic product (GDP) fell by 6.8 % in the first quarter of 2020, which became the first decline since 1976.

In addition, it also follows from the NBS data that during March, the Chinese economy continued to be under strong pressure. The industrial sector, retail trade and investment in fixed assets were particularly affected. Retail sales decreased by 15.8 % after a record collapse of 20.5 % in January and February, and investment in fixed assets decreased by 16.1 %.

China’s unemployment rate was 5.9 % in March, it declined in comparison with January and February (6.2 %). South China Morning Post notes that this data is not representative because it does not include many migrant workers who cannot return to their homeland due to travel restrictions imposed because of the pandemic.