China's central Hubei province, the first epicenter of the new coronavirus outbreak in the country, posted a 39.2% drop in economic output in the first quarter compared with a year earlier, weighed down by a sharp decline in manufacturing.
The sudden outbreak of the new coronavirus has had an unprecedented impact on economic and social development in the province, with most economic indicators down significantly in the first quarter, the Hubei statistics bureau said Tuesday.
The Chinese authorities locked down Hubei for most of the first quarter to stem the spread of the highly contagious coronavirus, stalling its economy. The provincial capital of Wuhan, the origin of the outbreak, accounts for almost 10% of vehicles made in China and is home to hundreds of parts suppliers.
Hubei's manufacturing output plunged 45.8% in January-March from a year earlier, led by slumps in the auto, electrical machinery and general equipment industries, according to the statistics bureau.
China's first-quarter gross domestic product fell 6.8% year-on-year, data released last week showed. It was the first contraction in the world's second-largest economy since at least 1992, when official quarterly gross domestic product (GDP) records were first published.
Please click to read our informative text prepared pursuant to the Law on the Protection of Personal Data No. 6698 and to get information about the cookies used on our website in accordance with the relevant legislation.
6698 sayılı Kişisel Verilerin Korunması Kanunu uyarınca hazırlanmış aydınlatma metnimizi okumak ve sitemizde ilgili mevzuata uygun olarak kullanılan çerezlerle ilgili bilgi almak için lütfen tıklayınız.