China's economy shrinks 2.6% during virus shutdowns
https://apnews.com/bb6d3f92141afdd8bd191df957f5ffc9
BEIJING (AP) — China’s economy contracted in the three months ending in June compared with the previous quarter after Shanghai and other cities were shut down to fight coronavirus outbreaks, but the government said a “stable recovery” is under way after businesses reopened.
The world’s second-largest economy shrank by 2.6%, compared with the January-March period’s already weak quarter-on-quarter rate of 1.4%, official data showed Friday. Compared with a year earlier, which can hide recent fluctuations, growth slid to a weak 0.4% from the earlier quarter’s 4.8%.
China's economy shrinks 2.6% during virus shutdowns
Jul 15, 2022, 3:16am UTC
https://apnews.com/bb6d3f92141afdd8bd191df957f5ffc9
> BEIJING (AP) — China’s economy contracted in the three months ending in June compared with the previous quarter after Shanghai and other cities were shut down to fight coronavirus outbreaks, but the government said a “stable recovery” is under way after businesses reopened.
> The world’s second-largest economy shrank by 2.6%, compared with the January-March period’s already weak quarter-on-quarter rate of 1.4%, official data showed Friday. Compared with a year earlier, which can hide recent fluctuations, growth slid to a weak 0.4% from the earlier quarter’s 4.8%.