China’s CommerceMin: Consumption to bottom out in March and recover in Q2

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Reuters reports the latest comments from a Chinese Commerce Ministry official, as he says that he expects consumption to bottom out in March and recover in Q2.

Key quotes:

If coronavirus crisis lasts for a relatively long time, china’s agricultural, food and labour-intensive industries will be heavily impacted.

Coronavirus has had a relatively big impact on consumption in the short term, but expects consumption to gradually recover.

Consumption will be most heavily impacted by coronavirus in the first quarter.

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