China’s GDP Report Set to Show Damage From Covid Zero Exit
- Activity weakened sharply in December as infections spiked
- Data to confirm China missed 2022 growth target by big margin
A near empty restaurant in Beijing on Dec. 29.
Source: Bloomberg
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China’s key economic data this week will likely show a marked weakening in growth at the end of last year after the Covid Zero policy was abruptly ended, although attention is quickly shifting to a strong rebound in 2023.
A surge in infections in December took a toll on the economy, with official data Tuesday likely to show a slump in activity to levels comparable to when Shanghai was locked down in the spring last year.