Even without a lockdown, Beijing's economic activity declined in May

Industrial output in the capital city dropped nearly 40% in May, worse than Shanghai's almost 28% drop

Retail sales in Beijing fell about 26% in May from a year earlier, data from the municipal statistics bureau showed. (Photo: Bloomberg)
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Retail sales in Beijing fell about 26% in May from a year earlier, data from the municipal statistics bureau showed. (Photo: Bloomberg)

Bloomberg
Beijing’s economy was slammed in May as it contended with Covid outbreaks, a sign that government curbs to contain the virus still had a significant impact even though it managed to avoid a citywide lockdown like Shanghai’s. 
 
Retail sales in the city fell about 26% in May from a year earlier, data from the municipal statistics bureau showed. That’s worse than any other provincial-level jurisdiction that has published monthly data so far except for Shanghai, where spending plunged some 37%. 

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First Published: Jun 21 2022 | 7:45 AM IST

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