China’s industrial production recorded the most significant decline in the last 30 years during the first two months of this year, as the negative effects of the coronavirus pandemic (Covid-19) and the strict measures taken to keep the spread of the virus significantly disrupted the second largest global economy, according to Agerpres and Reuters.

Urban investment and retail sales have also declined significantly, the Institute of Statistics announced on Monday, raising fears that the epidemic could halve the growth of the Chinese economy in the first quarter of 2020.

China’s industrial output fell above expectations, by 13.5%, between January and February 2020, compared to the first two months of 2019, the lowest level since January 1990, when Reuters began publishing the data. In December, industrial production increased by 6.9%.

Retail sales decreased by 20.5%, compared to a 0.8% advance forecast by analysts and an increase of 8% in December, after consumers avoided crowded places, such as malls, restaurants and the cinemas.

China’s exports fell 17.2% in the first two months of this year, compared to the same period in 2019, and analysts warn that factory activity may not return to normal until April, as consumer confidence will recover gradually.