(Yicai  Global) March 16 -- China's value-added industrial  output, which measures the activity of designated large enterprises with  annual turnover of at least CNY20 million (USD2.9 million), contracted  more than expected during the first two months of this year amid the  Covid-19 virus outbreak.

The  Yicai Chief Economist Confidence Index, a gauge of confidence in  China's economy, had predicted that the tally would fall 1.83 percent  from a year ago instead of the official 13.5 percent drop that the  National Bureau of Statistics announced today.

Manufacturers had a 15.7 percent slump, utility enterprises a 7.1 percent decline, and mining companies a 6.5 percent one.

Editor: Emmi Laine