The economic impact of China’s zero-Covid policy has been revealed after the country’s industrial output and consumer spending figures hit their worst levels since the pandemic began.
Oil prices fell as Beijing reported an 11.1% drop in retail sales and an unexpected 2.9% decline in factory production, adding to worries about the global economic outlook.
The updates follow Friday’s rebound for stock markets as Wall Street pared back losses during a sixth consecutive week of declines.
