Home Latest News China’s First-Quarter GDP Plunges on Coronavirus - The Wall Street Journal

China’s First-Quarter GDP Plunges on Coronavirus – The Wall Street Journal


BEIJING—China’s overall economy plummeted 6.8% in the initially three months of the 12 months when compared with a calendar year previously, the country’s first such fall because Beijing began reporting quarterly gross domestic product in 1992.

The sharp contraction in the world’s second-greatest economic system, described Friday, gives a foreshadowing of the discomfort predicted in the U.S. and close to the world as the coronavirus pandemic shuts borders, halts business enterprise exercise and cripples world source chains.

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