BEIJING --- The economy of Shanghai, China's most populous city, slowed in the first quarter from the end of 2021, hurt by rare declines in industrial output and retail sales that were hammered by the country's most serious COVID outbreak. Shanghai's gross domestic product (GDP) grew 3.1% in the first quarter from a year earlier, the local statistics bureau said on Saturday, significantly less than the 4.8% growth in the national GDP during the same period announced earlier. In 2021, Shanghai's GDP rose 8.1%. "In January-February, the city's economic operation was stable, but due to the impact of the COVID outbreak in March, the first quarter was marked by stability followed by...
Keep on reading: Shanghai economy slows as COVID hits industry, retail
from INQUIRER.net https://ift.tt/imazYhE
0 Comments