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Chinese economy skids as Covid lockdowns hit factories, retailers

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

A rag-and-bone man rides towards a hutong alley decorated with Chinese national flags during the ongoing 19th National Congress of the Communist Party of China, in Beijing
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A rag-and-bone man rides towards a hutong alley decorated with Chinese national flags during the ongoing 19th National Congress of the Communist Party of China, in Beijing.

Reuters Beijing
China's retail and factory activity fell sharply in April as wide COVID-19 lockdowns confined workers and consumers to their homes and severely disrupted supply chains, casting a long shadow over the outlook for the world's second-largest economy.

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.

Retail sales in April shrank 11.1% from a year earlier, the biggest contraction since March 2020, data from the National Bureau of Statistics

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)