CHINA's retail and factory activity fell sharply in April as wide Covid lockdowns confined workers and consumers to their homes and severely disrupted supply chains, reports Reuters.
Retail sales in April shrank 11.1 per cent from a year earlier, the biggest contraction since March 2020, data from the National Bureau of Statistics (NBS) showed, a steeper decline than forecast in a Reuters poll.
Factory production fell 2.9 per cent from a year earlier, dashing expectations for a rise and the largest decline since February 2020, as anti-virus measures snarled supply chains and paralysed distribution.
Full or partial lockdowns were imposed in major centres across the country in March and April, including the most populous city Shanghai, hitting production and consumption and heightening risks for those parts of the global economy heavily dependent on China.
SeaNews Turkey
Retail sales in April shrank 11.1 per cent from a year earlier, the biggest contraction since March 2020, data from the National Bureau of Statistics (NBS) showed, a steeper decline than forecast in a Reuters poll.
Factory production fell 2.9 per cent from a year earlier, dashing expectations for a rise and the largest decline since February 2020, as anti-virus measures snarled supply chains and paralysed distribution.
Full or partial lockdowns were imposed in major centres across the country in March and April, including the most populous city Shanghai, hitting production and consumption and heightening risks for those parts of the global economy heavily dependent on China.
SeaNews Turkey