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India's central bank slashed interest rates in an emergency move on Friday to counter the economic fallout from the pandemic after the federal government locked down the country in order to slow the spread of infections across the region.

Increasing sales of gold jewelry and gold coins achieved through online platforms are satisfactory, but not enough to make up for the loss of in-store sales, it said.

Index levels above and below the baseline of 100 indicate consumer optimism and pessimism, respectively. The index measures perceptions of local job prospects, personal finance and willingness to spend.

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Industry remains competitive and resilient despite outbreak, say experts

Inflation data from the National Bureau of Statistics released earlier this month indicated little pressure ahead for China to pump more money to support the economy, as the consumer price index in October rose 2.5 percent, well below the government's target ceiling of 3 percent for 2018, and the producer price index climbed 3.3 percent in October from a year earlier amid sluggish demand.

Independent analyst Patrick Moorhead of Moor Insights & Strategy called it an “exceptional quarter,” pointing out that AWS’s growth of .5 billion in net sales for the quarter is larger than the overall annual revenue posted by many cloud companies. On an annual basis, he noted, the division’s quarterly result would make it a billion business.

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Indeed, with the rising labor costs in China, especially the coastal regions, many manufacturing jobs have been either relocated to the hinterland or countries such as Vietnam, Bangladesh and Ethiopia where labor costs are lower, or more competitive.

Indonesians clean their homes and cutlery along the river in Jakarta on Friday, after flooding triggered by heavy rain on New Year's Eve struck the area. BAY ISMOYO/AFP

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Increasing high-tech imports can also reduce the country's trade surplus with the United States and Europe, according to Ye.

In the wake of the COVID-19 outbreak, China Continent Insurance Company (CCIC), a subsidiary of China Re, has capitalized insurance support in provinces including Zhejiang, Hebei, Henan, Jiangxi, Gansu, and Qinghai to promote its products for safeguarding the hard-won outcome of poverty alleviation, and has increased pandemic-related accident coverage free of charge.