Virus had 'eye-popping' impact on China's economy - Beige Book
Share:
BEIJING (Reuters) - China's economy suffered through an "eye-popping" first quarter as a coronavirus epidemic hammered business activity, with deterioration even as firms were supposed to be going back to work, a private survey showed on Tuesday. After surveying thousands of Chinese firms, China Beige Book International (CBB) suggested that "a 10-11% GDP contraction in the first quarter is not unreasonable."Indicators in the survey "continued to deteriorate even into mid-March when most firms..