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China's economy didn't bounce back in the second quarter, China Beige Book survey finds

CNBC Finance LogoCNBC Finance1 mo ago

China's economy didn't bounce back in the second quarter, China Beige Book survey finds

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"While most high-profile lockdowns were relaxed in May, June data do not show the powerhouse bounce-back most expected," according to a report released Tuesday.

Shanghai, China's largest city by gross domestic product, was locked down in April and May.

Across China, only the property sector and the manufacturing hub of Guangdong saw any year-on-year improvement, the China Beige Book said.


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Author / Journalist: https://www.facebook.com/CNBC

Category: MarketsFinanceInvesting

Topics: Cnbc China Markets Beijing Finance Economic events World Economy Stock markets China China Politics Articles Markets Stocks Market Insider Asia Economy Source:tagname:CNBC Asia Source World economy China Economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-28, 22:00:01

News Timezone: GMT -5:00

News Source URL: cnbc.com

Language: English

Reading Time: 3 minutes read

Article Length: 463 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 19290

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