SINGAPORE—Activity in China’s services sector fell in April to its weakest level since the early days of the pandemic, according to one indicator, asA personal, guided tour to the best scoops and stories every day in The Wall Street Journal.The data add to evidence that China’s economy slowed sharply last month as authorities imposed restrictions on businesses and daily life in major cities including Shanghai.
On Thursday, China reported 4,848 locally transmitted new Covid-19 cases for the day earlier, with 4,466 of those logged in Shanghai and 50 in Beijing. There were 13 deaths linked to the disease, all in Shanghai. The index dropped to 36.2 in April from 42.0 in March as the Covid-19 restrictions spread from city to city, closing businesses and throttling consumer demand for eating out, shopping and other services. A reading above 50 indicates expansion and below 50 points to a contraction. The index sank to a record low of 26.5 in February 2020.
Official gauges of activity in manufacturing and services, published Saturday, recorded similarly steep drops as restrictions took hold. Factory production slowed or in some cases ground to a halt in regions under lockdown.
Too bad !
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