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China’s Economy Takes a Deeper Hit as Retail Sales Turn Negative
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HONG KONG—China’s economy sank into a deeper funk last month as the weight of strict zero-Covid measures, a real-estate downturn and sinking export demand underscored the difficulties of rekindling growth amid tighter government regulations and a worsening global economy.
New data released Tuesday showed economic activity cooling across the board in October. Retail sales contracted unexpectedly for the first time in five months as factory output growth slowed and a pullback in real-estate investment accelerated.
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