Beijing ¨C 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 centers across the country in March and April ¡ª including the most populous city, Shanghai ¡ª hitting production and consumption and heightening risks for those parts of a 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 (NBS) showed Monday, a steeper decline than forecast in a Reuters poll.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.