China's economy in 2020: Impact of COVID-19

This part of your report is a summary and analysis of China's economy in 2020 for which data is available.Assume this is intended for a firm with strong economic links to the Chinese economy requiring analysis on the impact of COVID-19 on the Chinese economy.

Refer to the data sheet for China 2020 available in Assignments / Assessment task 2.

1.Identify the business cycle for China for the 4 quarters of 2020.In your answer also indicate the impact of the following on the business cycle and indicate which made the greatest contribution:

-consumer confidence / sentiment;

-manufacturing output;

-net exports.

2.What was the change to the unemployment rate and what type of unemployment was most likely to have changed?

3.What was the change to the inflation rate and what type of inflation was most likely to change?(Note: use the CPI for this question as reliable data exists).