November 22, 2024 23:46 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Centre to send over 10,000 additional soldiers to violence-hit Manipur amid fresh violence | Chhattisgarh: 10 Maoists killed during encounter with security forces in Sukma | Baba Siddique murder case: Arrested Akashdeep Gill used a labourer's hotspot to evade tracking, say police | Donald Trump picks 'smart and tough' Pam Bondi as new US Attorney General after Matt Gaetz withdraws | Canadian government denies media report that claims PM Modi knew of Khalistani leader Nijjar's killing
China’s economy badly hit by Covid lockdowns: Reports
China Economy
Representational photo from Pixabay

China’s economy badly hit by Covid lockdowns: Reports

| @indiablooms | 21 Oct 2022, 11:54 pm

Beijing: China's economic indicators are not looking very positive as the country is badly hit by COVID-19 imposed lockdowns which is affecting both businesses and consumers.

China, the world’s second-largest economy, Gross domestic product (GDP) fell by 2.6 percent in the three months to the end of June from the previous quarter, reported Geo-politik as quoted by ANI.

Several cities in the country were put under lockdown by Chinese authorities amid a spike in COVID-19.

In April, not a single automobile was sold in Shanghai, according to a report in the Washington Post.

Shanghai’s economy reportedly shrank by 13.7 percent during the quarter ending in June.

The length and severity of Shanghai’s lockdown sent shockwaves through global supply chains and even led to a rare outburst of public dissent from residents who complained of food shortages and arbitrary quarantine measures, reported Geo-politik, reports ANI.

Goldman Sachs in September estimated that cities impacted by lockdowns accounted for 35 percent of China’s gross domestic product (GDP).

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Images
Xi Jinping, Putin in Russia 22 Mar 2023, 02:56 pm
Related Videos