China’s economy takes a hit

China’s industrial output contracted at the sharpest pace in three decades in the first two months of the year, official data showed today.  This comes as strict measures to contain the coronavirus  disrupted the world’s second-largest economy.

While China’s number of new coronavirus infections has dropped sharply, analysts warn it could take months before the economy returns to normal.

There are fears that a global recession will slash demand for Chinese goods with the virus spreading around the globe.