China's shaky economic recovery from the coronavirus pandemic is gaining strength as consumers return to shopping malls and auto dealerships while the United States and Europe endure painful contractions. Growth 'still accelerating'China is the only major economy that is expected to grow this year while activity in the United States, Europe and Japan shrinks. The recovery is "broadening out and becoming less reliant" on government stimulus, Julian Evans-Pritchard of Capital Economics said in a report. The economy "continued the steady recovery," the National Bureau of Statistics said in a report. The International Monetary Fund is forecasting China's economic growth at 1.8 per cent this year while the U.S. economy is expected to shrink by 4.3 per cent.

Source: CBC News October 19, 2020 10:24 UTC