According to January-February 2026 data released by China's National Bureau of Statistics (NBS), industrial production increased by 6.3% year-on-year, while retail sales rose by 2.8% and fixed-asset investments grew by 1.8%.
Industrial production, calculated based on the output of enterprises with an annual turnover exceeding 20 million yuan, surpassed the growth rates recorded in December 2025 and throughout 2025. Consumption growth reached 2.8%compared to the same period last year, exceeding the 0.9% increase in December 2025, though it remained below the 3.7% overall growth seen in 2025.
While fixed-asset investments saw an annual increase of 1.8%, the decline in the real estate sector continued, with investments dropping by 11.1%. Meanwhile, the urban unemployment rate rose to 5.3%.
NBS Spokesperson Fu Linghui stated that the data indicates a recovery in the Chinese economy during the January-February 2026 period, while warning that geopolitical risks could pose negative impacts on the economy. In China, economic data for January and February are released collectively each year due to the Lunar New Year (Spring Festival) holiday.
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