China’s Economy Rebounds, Spurred by Consumption

SINGAPORE—Economic activity in China rebounded in January and February as the country emerged from almost three years of tough Covid-19 controls, adding to signs of resilience in the global economy after the sudden collapse of two U.S. banks unnerved investors. 

The data suggest China’s expected recovery is broadly on track after posting one of its weakest years for growth in decades in 2022. A pickup in retail sales suggests consumption is taking over as the engine of growth while factories contend with sinking exports and the real-estate sector shrinks, figures published Wednesday show.