
Covid has hit China's economy harder than expected
CNN
China has reported disappointing economic data for the month of April, underscoring the extensive damage Covid lockdowns have wreaked on the country.
The world's second largest economy reported shocking drops in retail sales and factory production, widely missing market expectations.
Retail sales contracted 11.1% in April from a year ago, according to China's National Bureau of Statistics on Monday. That was well below the 6.1% drop forecast in a Reuters survey of economists, and also much lower than the 3.5% decrease seen in March.
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