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China: Covid effect, retail sales down 11.10% in April

2022-05-16T02:50:05.807Z

Retail sales in China plummeted annually in April at -11.10%, slipping to a two-year low compared to -3.5% in March and -6.1% estimated by analysts, due to of the draconian measures of the lockdowns in response to the wave of ... (ANSA)



(ANSA) - BEIJING, MAY 16 - Retail sales in China fell annually in April at -11.10%, slipping to the lowest of the last two years compared to -3.5% in March and -6.1 % estimated by analysts, due to the draconian measures of the lockdowns in response to the wave of Covid-19 which "had a massive impact" on the economy.


    In a note, the National Statistical Office also reported that industrial production also marked a sharp annual slowdown in April to -2.90% against expectations at + 0.4% and + 5% in March, hitting the first decline. from March 2020. Urban unemployment also hurt, jumped to 6.1% from 5.8% in the previous month.

(HANDLE).


Source: ansa

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