HomeStrategyPoliticsCoronavirus live news: China GDP shrinks 6.8% as Trump says 29 states...

Coronavirus live news: China GDP shrinks 6.8% as Trump says 29 states could reopen ‘relatively soon’ | World news






China’s GDP shrinks 6.8% in March quarter

China has reported its first ever quarterly contraction at 6.8%, its slowest pace on record.

The decline comes after almost three months of nationwide lockdown as the country battled the coronavirus, which emerged in December in the central Chinese city of Wuhan and has infected more than 2 million people around the world.

China’s economy has not recorded a contraction since 1992 when the country began publishing quarterly GDP data. In 2019, China already posted its slowest growth in almost 30 years.

Over the last month, Chinese authorities have pushed to get the paralysed economy back up and running with businesses and factories re-opening and policies to help households and companies.

Analysts polled by Reuters estimate China’s yearly growth for 2020 will slow to 2.5% from 6.1% last year, the weakest pace since the last year of the Cultural Revolution.

China has reported more than 3,000 deaths and 80,000 infections from the coronavirus

Trinh Nguyen
(@Trinhnomics)

Ouch! Worse than expected GDP wise with -6.8% YoY for Q1 & what’s really bad is the March retail sales that fell –15.8%YoY in March & year to date is -19%.

FAI still fell -16.1% and property investment fell less thawn expected at -7.7% https://t.co/XYA2DCxJZw pic.twitter.com/BGrLF6ib9n


April 17, 2020

CommSec
(@CommSec)

China GDP (economic growth)
March quarter: -6.8% (forecast -6.5%)#ausbiz #ausecon #markets #commsec #chinadata


April 17, 2020

Updated





Updated





Trump defers to governors in guidelines for reopening US amid pandemic

Donald Trump and his coronavirus taskforce have unveiled a set of federal guidelines for reopening the economy, which comprise three phases but ultimately defer to governors on when and how to return their state to normal.

The first phase allows for gradually returning to work while also minimizing non-essential travel. The second phase would allow for gatherings of 50 people and non-essential travel. The third allows for schools and organized youth activities to open up as well as large venues to operate under “physical distancing protocols”. The third phase would also allow bars to reopen but with “diminished standing room occupancy” when possible.

The guidelines were unveiled at the president’s daily coronavirus briefing on Thursday. They represent a dramatic shift from the strict stay-at-home orders currently in place in many states. In unveiling them Trump made clear his eagerness to end the nationwide lockdown and return the American economy to its pre-coronavirus days.





















India brings culpable homicide charges against Muslim seminary chief









Human Rights Watch warns of “tremendous danger” of virus resurgence in China













Updated





IMF predicts zero growth in Latin America and the Caribbean for decade to 2025





Summary





Source link

NypTechtek
NypTechtek
Media NYC Local Family and National - World News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read