BEIJING, Dec 19 (Reuters) – China’s business confidence hit its lowest since at least January 2013, a survey by World Economics showed on Monday, reflecting the impact of surging COVID-19 cases on economic activity and hinting at possible recession next year.
The index fell to 48.1 in December from 51.8 in November, showed World Economics’ survey of sales managers at over 2,300 companies conducted Dec. 1-16. The index was the lowest since the survey began.
“The survey suggests strongly that the growth rate of the Chinese economy has slowed quite dramatically, and may be heading for recession in 2023,” said World Economics.
The world’s second-biggest economy after the United States is facing a surge in COVID-19 infections following the abrupt relaxation of strict containment measures, hitting businesses and consumers alike, while a weakening global economy is hurting Chinese exports.
Reporting by Liangping Gao and Ryan Woo; Editing by Christopher Cushing
Our Standards: The Thomson Reuters Trust Principles.
In the latest findings from 2024, researchers from CreativeBacon, ThemeHunk, and WPShopmart have selected the MotoPress Appointment Booking plugin for WordPress
Family-ran business promoting positivity after deadly triple shooting near West Philly bar A family run business in Philadelphia is pushing past the violence
When Kurt Harthoorn stopped coaching girls basketball at Lynnville-Sully, the plan wasn’t really to get back into it.But when your son comes calling, how can
TULSA, Okla. — Tucked away just north of Tulsa International Airport, you'll find a local favorite: Wanda J's Next Generation Restaurant. Customers keep comin