(ATF) A proxy gauge of construction activity in China suggests infrastructure projects designed to help resuscitate the coronavirus-hit economy are doing their work.
National excavator output in May was 40,420 units, an 82% year-on-year increase, and sales volumes surged 68%, according to the latest data released by the National Bureau of Statistics.
The figures are an indication that infrastructure activity in the country is on the rise. China has sold trillions of yuan of bonds to fund construction and development projects as a way of pulling the economy out of decline following the coronavirus outbreak. Focus has been placed largely on technology-linked infrastructure, such as erecting 5G network pylons.
In the first five months, total output of excavators nationwide was 153,289, up 14.7%.