China’s consumption and industrial production grew faster in January-February, an upswing that exceeded forecasts, according to data released Monday. At the same time, new- home prices fell more quickly, worsening for the first time in six months despite efforts to prop up the market.

Growth outlooks in the United States and several other countries are projected to slow this year and next, as uncertainty on trade and economic policy takes their toll.

China has unveiled a 30-point plan to boost consumer spending — a task that has become ever more urgent since President Donald Trump ignited a trade war.

Authorities in China pledged on Sunday to "vigorously boost consumption" and "expand domestic demand in all directions" as they seek to cushion the impact of weak external demand amid an escalating global trade war.

The plan comes as levels of consumer demand in China have suffered various setbacks in recent years, due to factors such as COVID-19 disruptions and a prolonged property slump, chilling the propensity of households to spend and adding to deflationary trends.