China's industrial production rose sharply in the first two months

China's industry and consumers are the engine of the recovery of the world's second largest economy earlier this year. Activity in Chinese industry and the retail sector rose sharply in the first two months, exceeding expectations, underscoring the rapid economic recovery from the Covid-19 pandemic. Industrial production jumped 35.1% in the first two months of 2021 after rising by 7.3% in December, the Chinese statistical office said. Economists expected an expansion of only 30%. Retail sales increased by 33.8% after an increase of 4.6% in December. In the first two months of last year, retail sales fell by 20.5%. After the introduction of strict lockdowns and severe anti-epidemic measures last year, the Chinese economy was the first to recover from a pandemic, growing by 2.3% in 2020. However, the unemployment rate rose to 5.5% in February from 5.2% in December. Experts warn that the real unemployment rate is probably higher.