China's Economy Gaining Momentum in Q2 With Strong Recovery in Services - IMF
The Chinese economy is gaining momentum in the second quarter including in the services sector where it performed stronger than expected last month, International Monetary Fund (IMF) spokesperson Gerry Rice told reporters on Thursday
WASHINGTON (Pakistan Point News / Sputnik - 18th June, 2020) The Chinese economy is gaining momentum in the second quarter including in the services sector where it performed stronger than expected last month, International Monetary Fund (IMF) spokesperson Gerry Rice told reporters on Thursday.
"The recovery in services in May has been stronger than expected," Rice said.
China's economy, overall, has gained momentum and may see strong final results in the second quarter after contracting in the previous quarter for the first time in 40 years due to the severity of the pandemic lockdowns.
The IMF spokesperson warned, however, that another wave of the pandemic could force a new national lockdown and slow domestic activity in China.