Shanghai May retail sales plunge 36.5% y/y
FILE PHOTO: People walk at a main shopping area, as the city prepares to end the lockdown placed to curb the coronavirus disease (COVID-19) outbreak in Shanghai, China May 31, 2022. REUTERS/Aly Song
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 the city dropped 21.2 per cent in the first five months, compared with the 11.3 per cent loss in January-April.
Source: Reuters
