China’s Consumption Declined 5 Times Faster Than Official GDP

Chinese security guards wear protective masks as they stand on an empty commercial street on Feb. 25, 2020 in Beijing, China. Lintao Zhang/Getty Images

News Analysis

China’s reported GDP after inflation declined 9.8 percent in the first quarter, but data analysis reveals that urban consumption plunged by 48 percent, or five times faster, according to Enodo Economics, an independent macroeconomic and political forecasting company that focuses on China.