Shanghai May retail sales plunge 36.5% y/y

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BEIJING : Shanghai's retail sales in May shrank 36.5 per cent from a year earlier, the local statistics bureau said on Friday, hurt by the stringent COVID-19 curbs in the Chinese commercial hub. The number, however, was an improvement from a 48.3 per cent tumble in April.Fixed-Asset investment in t

BEIJING : Shanghai's retail sales in May shrank 36.

5 per cent from a year earlier, the local statistics bureau said on Friday, hurt by the stringent COVID-19 curbs in the Chinese commercial hub.Fixed-Asset investment in the city dropped 21.2 per cent in the first five months, compared with the 11.3 per cent loss in January-April.

Source: News Formal (newsformal.com)

 

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