China's industrial output up 2.4% in first 2 months

China's value-added industrial output, an important economic indicator, went up 2.4 percent year on year in the first two months of 2023, data from the National Bureau of Statistics showed Wednesday.

The growth rose by 1.1 percentage points from the level in December 2022, and the two-year average growth stood at 4.9 percent, NBS data showed.

"In the first two months, the Chinese economy steadily recovered with rising production demand, stable employment and consumer prices and improved market expectations," NBS spokesperson Fu Linghui told a press conference.

The industrial output is used to measure the activity of large enterprises each with an annual main business turnover of at least 20 million yuan (US$2.91 million).