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China's economy records slowest growth since the start of 2020

Posted on AllSides July 15th, 2022
From The Left
Barricades from recent Covid-related lockdowns block an entrance leading to Country Garden Holdings Co.'s Fengming Haishang residential development in Shanghai, China, on Tuesday, July 12, 2022.

Hong Kong (CNN Business)China's economy has recorded its worst quarterly performance in over two years, after months of harsh Covid lockdowns wreaked havoc across the country.

Gross domestic product in the world's second largest economy expanded by just 0.4% in the three months to June 30, compared with the same period last year, according to the National Bureau of Statistics (NBS) on Friday.

That was sharply lower than the 4.8% increase it registered in the previous quarter and far below the 1% growth estimated by economists in a Reuters poll. On a quarterly basis, GDP shrank...

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