Published 2 years ago

Global firms warn of sluggish China demand due to lengthy COVID curbs

Summary by Ground News

China's economy is staggering back to its feet, but businesses are warning of slow sales. Retail sales in April shrank 11.1% year-on-year, after falling 3.5% in March. UBS and J.P. Morgan lowered their full-year GDP growth forecasts for China to 3% and 3.7%.

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Reuters

Global firms warn of sluggish China demand due to lengthy COVID curbs

2 years ago·United Kingdom

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IBTimes

Global Firms Warn Of Sluggish China Demand Due To Lengthy COVID Curbs

Two months into harsh COVID-19 lockdowns that have choked global supply chains, China's economy is staggering back to its feet, but businesses from retailers to chipmakers are warning of slow sales as consumers in the country slam the brakes on spending. Car sales in the world's largest auto market have slowed dramatically, gamers are buying fewer consoles, and people are unwilling to replace their existing smartphones, laptops and TVs, as prolo…

2 years ago·United States

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