BEIJING (Reuters) - China’s statistics bureau said on Thursday it expected consumption to improve in March and economic growth to remain steady, after data showed industrial output growth fell to a 17-year low in the first two months of the year.
The higher survey-based jobless rate in February was due to the Lunar New Year holidays, said bureau spokesman Mao Shengyong, adding that employment remained steady.
China’s nationwide survey-based jobless rate was 5.3 percent in February, up from 4.9 percent at end-December, official data showed.
Domestic demand is expected to remain steady, and possibility of deflation is small, Mao added.
Reporting by Beijing Monitoring Desk; Editing by Darren Schuettler