Tough restrictions in the PRC aimed at combating the spread of coronavirus, in bragged the Chinese economy is stronger than the expected. In April, industrial production decreased by 2.9% compared to the same month of last year, the National Statistical Office in Beijing reports.
According to information, back in March this figure increased by 5%, and analysts surveyed by Reuters expected its growth by 0.4%in April.
Chinese companies are difficult to have difficulties in connection with tough Locks during the Omcrone wave. In particular, interruptions in deliveries and increase in expenses are noted. Retail turnover in April, compared to the same month of last year, fell by 11.1% – much more than analysts predicted. Reuters surveyed experts counted on decline at 6.1%. In addition, in April in China, the unemployment rate increased sharply. The share of the unemployed last month was 6.1% – only a little lower than historically the indicator for February 2020, which was 6.2%.
According to experts, the indicators for April are more likely to indicate that the recession of the second in the world of the economy will be stronger than expected by the results of 2022. “Data on April’s activities revealed damage from Locks in Shanghai and other regions of the country,” Bloomberg is indicated in the analysis of the financial agency. According to its analysts, the consequences of the Zero Kovid strategy are much wider and deeper than expected.