BEIJING: Economic activity in China weakened in November before the government abruptly dropped its zero-Covid policy, while a surge in infections in coming months is likely to cause more turmoil and push policymakers to increase stimulus.
Key data released on Thursday showed business and consumer activity slumped to their weakest levels since the Shanghai lockdown in the spring of this year. Retail sales and home sales declined, while industrial output and investment slowing sharply. Unemployment rose, notably for the country’s most vulnerable workers.
