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China struggles with weak post-COVID economic recovery


SHIYAN, China (AP) — China’s manufacturing and consumer spending are weakening after a strong start to 2023 after anti-virus controls ended. Automakers and other companies are struggling to rebuild sales and sending salespeople abroad to revive their export businesses following a three-year gap. Economic growth accelerated to 4.5% over a year earlier in the three months ending in March from the previous quarter’s 2.9%, but forecasters say the peak of that recovery might already be past. The Yizhuan Automobile Co., which makes trash and dump trucks, says sales are up only by single-digit percentages from last year’s depressed level. Retail spending is weaker than expected at a time when many consumers fret over the economic outlook and their jobs.

Article Topic Follows: AP National

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