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China’s Services Sector Posts Steepest Decline Since Pandemic’s Start
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SINGAPORE—Activity in China’s services sector tumbled in March at its fastest pace since the onset of the Covid-19 pandemic, as lockdowns aimed at smothering outbreaks in major cities kept millions at home and pummeled consumer spending.
The data add to signs the world’s second-largest economy will struggle to meet Beijing’s growth goals for the year as authorities wrestle with China’s worst Covid-19 outbreak in two years. Cases have triggered lockdowns in parts of the country as distant as the southern technology hub of Shenzhen and the northeastern industrial province of Jilin.
Read more on wsj.comAbout this in other media
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