Skip to content
Markets
Economics

China Covid Outbreak Hits Spending With More Damage to Come

  • Caixin services PMI plunges to lowest since February 2020
  • Spending over the Qingming holiday slumped amid lockdowns
Video player cover image
Shanghai Reports Over 17,000 Covid Cases on Tuesday
Updated on

Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.

China’s services sector took a massive knock in March from the nation’s worst Covid outbreak since the start of the pandemic, with latest holiday spending figures showing there’s more damage to come this month.