China’s economic activity weakened sharply in April as Covid-19 lockdowns took heavy toll

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China's economic activity weakened sharply in April as widening COVID-19 lockdowns took a heavy toll on consumption, industrial production and employment, adding to concerns that the world's second largest economy could contract in the second quarter.

Retail sales contracted by 11.1% in April from a year earlier, the biggest slump since March 2020, data released by the National Bureau of Statistics (NBS) showed on Monday, weakening from the 3.5% drop . . .

 

 

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