China economy braces for further slump

Feeling the brunt: A delivery worker waits outside a closed shopping mall in Beijing. Chances are rising of more disruption to economic growth as authorities struggle to minimise infections. — Reuters

BEIJING: China’s economic activity slumped in November and could drop further in coming weeks as Covid outbreaks spread across the country and protests against tighter virus restrictions escalate.

Bloomberg’s aggregate index of eight early indicators showed a likely contraction in activity in November from an already subdued pace in October. With Covid cases spreading rapidly in each of China’s provinces now and major cities like Guangzhou, Beijing and Zhengzhou imposing new restrictions to limit residents’ movements, the outlook remains grim.