China’s economy slumps 7% in Q1 on pandemic disruption, auto output and sales plunge 40%

January-March quarter sees growth contract 6.8% as compared to 6% growth a year ago; automobile production plunges 45.2% to 3.474m units and sales are down 42.4% to 3.672m units in the world's largest marketplace

17 Apr 2020 | 4748 Views | By Sumana Sarkar

The Covid-19 pandemic has dealt a body blow to the Chinese economy. Growth in the first quarter of 2020 shrank for the first time in 28 years since 1992. According to the National Bureau of Statistics, growth contracted 6.8% in the January to March 2020 period as compared to the ...

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