China’s Covid Curbs, Droughts Hit Tourism, and Factory Hubs
- Summer lockdowns and extreme weather caused large impact in 3Q
- Energy-rich northern areas benefited during power crunch
A health workers gives informations to a resident during Covid-19 tests of the entire population in Macau on Nov. 1.
Photographer: Eduardo Leal/AFP/Getty Images
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China’s Covid disruptions and extreme weather this summer dragged on growth for several of the country’s popular tourist spots and factory hubs, underscoring the economy’s fragility.
At least eight provincial-level jurisdictions reported slower growth or flipped into contraction in the first nine months of 2022 compared to the first half as Covid hampered businesses and a historic drought created an energy crisis.