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China's zero-COVID policy blamed as economy contracts by 2.6% in second quarter

China's zero-COVID policy is being blamed for a return to the red for its economy, with experts warning that recovery will be hampered by the darkening outlook for output globally. The authorities said the world's second-largest economy contracted by 2.6% between April and June compared to the previous three months. It meant that Chinese growth stood at just 0.4% on an annual basis. Both figures were far weaker than economists had expected, with those polled by the Reuters news agency having forecast a quarter on quarter decline of 1.5%.

Sky News - July 15, 2022

View the full story here: https://news.sky.com/story/chinas-zero-covid-policy-blamed-as-economy-contracts-by-2-6-in-second-quarter-12652286