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Chinese Retail Sales Hit Again by Corona Lockdowns

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Retail sales in China fell again in May under pressure from the corona lockdowns in the country. Industrial production in the world’s second-largest economy did increase, according to figures from the Chinese government.

 

Retail sales fell 6.7 percent year on year. That is less strong than in April when they shrank by more than 11 percent. Due to corona outbreaks, major cities including Shanghai and Beijing have gone into lockdown.

As a result, for example, fewer clothes, cars and other non-essential goods were sold. The lockdowns have been relaxed somewhat recently, but measures remain in place in cities such as Shanghai.

Production in China’s sizeable manufacturing industry rose 0.7 percent year-on-year last month. In April, there was still a decrease of 2.9 percent. This is partly due to higher car production in China. The production also increased in the mining industry.

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