Thursday, July 7, 2022
  • Login
CEO North America
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
CEO North America
No Result
View All Result

Covid Hits China’s Economy Harder Than Expected

in News
Covid hits china’s economy harder than expected
Share on FacebookShare on Twitter

China has reported shocking drops in retail sales and factory production, widely missing market expectations.

According to China’s National Bureau of Statistics retail sales plunged 11.1% in April from a year ago. Results are below the 6.1% drop forecast in a Reuters survey and much lower than the 3.5% decrease seen in March.

Industrial production by the world’s second largest economy also fell 2.9% last month from a year earlier, reversing a 5% gain in March. This was the worst contraction since February 2020 when the first wave of lockdowns almost stopped China’s economy.

Unemployment also was a disappointment. Although the urban jobless rate had a mild increase from March numbers, this was already at a 21-month high. Young people are struggling even more to find jobs, raising more alarms in the ruling Communist Party.

Results reported by the National Bureau of Statistics hit top global markets in early Monday trading.

After recording 4.8% growth for the first quarter China’s economy was apparently moving into a steady recovery process. However, Beijing’s recent lockdowns to curb its worst covid outbreak in two years has become a growing threat. Economists now expect China’s GDP to shrink this quarter.

Shanghai, the country’s financial center and a manufacturing hub, is one of almost 30 cities that are reported under lockdown for more than six weeks.

Tags: ChinaChina economy

Related Posts

U. K. Prime minister boris johnson resigns
News

U.K. Prime Minister Boris Johnson Resigns

Amazon secures stake in grubhub, gets into food delivery
News

Amazon Secures Stake in Grubhub, Gets into Food Delivery

Job openings fell in may as demand for workers remains strong
News

Job Openings Fell in May as Demand for Workers Remains Strong

Microsoft’s $68. 7 billion deal for activision faces probe in the u. K.
News

Microsoft’s $68.7 Billion Deal for Activision Faces Probe in the U.K.

Ford sales grow 31% in june, shares hit 52-week low
News

Ford Sales Grow 31% in June, Shares Hit 52-Week Low

S&p 500 heads to worst first half in decades
News

Stocks Drop as Recession Fears Mount

Ecb prepares to rise rates for first time in 11 years
News

Euro Nears 20-Year Low Against Dollar on Recession Fears

Rihanna becomes youngest self-made billionaire woman in the u. S.
News

Rihanna Becomes Youngest Self-Made Billionaire Woman in the U.S.

Tesla loses spot on s&p 500 esg index
News

Tesla’s Second Quarter Sales Drop 18% Amid Supply Chain Problems

Jeff bezos criticizes biden tweet on inflation
News

Bezos Criticizes Biden’s Call for Stations to Lower Gasoline Prices

No Result
View All Result

Recent Posts

  • U.K. Prime Minister Boris Johnson Resigns
  • Passive ETFs Are Surprisingly Active
  • Amazon Secures Stake in Grubhub, Gets into Food Delivery
  • Job Openings Fell in May as Demand for Workers Remains Strong
  • Microsoft’s $68.7 Billion Deal for Activision Faces Probe in the U.K.

Recent Comments

    Archives

    Categories

    • Art & Culture
    • Business
    • CEO Interviews
    • CEO Life
    • Editor´s Choice
    • Entrepreneur
    • Environment
    • Food
    • Health
    • Highlights
    • Industry
    • Innovation
    • Issues
    • Management & Leadership
    • Multimedia
    • News
    • Opinion
    • PrimeZone
    • Printed Version
    • Travel
    • Uncategorized

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    CEO Latin America | ES

    • CONTACT
    • GENERAL ENQUIRIES
    • ADVERTISING
    • MEDIA KIT
    • DIRECTORY
    • TERMS AND CONDITIONS

    Editorials – george.hatfield@ceo-na.com
    Advertising – media@ceo-na.com

     

    AUSTIN

    600, Congress Avenue 14th Floor
    Austin, TX.
    78701
    USA
    +1 512 649 0340

    NEW YORK

    387 Park Ave South,
    New York, NY.
    10016
    USA
    +1 212 796 64 15

    CEO North America © 2022 - Sitemap

    No Result
    View All Result
    • Home
    • Business
      • Entrepreneur
      • Industry
      • Innovation
      • Management & Leadership
    • CEO Interviews
    • CEO Life
      • Art & Culture
      • Food
      • Health
      • Travel
      • Environment
    • Opinion
    • News
    • Multimedia

    © 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?