China exports plunge on coronavirus epidemic

China’s exports plummeted in the first two months of this year on the back of a coronavirus epidemic that forced businesses to suspend operations, disrupting the world’s supply chains.

Coronavirus cases were first reported last December in Wuhan, in China’s central Hubei province, prompting a lockdown of the key industrial region with some 56 million people, from late January. It is the first time Chinese authorities have published combined trade data for January and February. “High frequency data such as coal and energy consumption, as well as metro usage, suggest that workers are still slowly returning to work,” he said.

With the coronavirus spreading around the world, it is not just China’s slowdown that weighs on global growth, which could contract in the first quarter.

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