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Economy

China posts weakest quarterly growth in 2 years on COVID lockdowns

Shanghai lockdown flattens second quarter growth to 0.4% from a year earlier

The Yangshan Deep Water Port in Shanghai. China's economy eked out a 0.4% year-on-year expansion in the second quarter, slowing sharply from the first quarter.   © Reuters

SHANGHAI -- China posted its weakest quarterly growth in two years on Friday as COVID-19 lockdowns in major cities, including the financial capital of Shanghai, hit factory output and consumer activity.

The world's No. 2 economy contracted 2.6% in the April-June period on a quarter-over-quarter basis, and it eked out a tepid 0.4% expansion from the second quarter a year earlier.

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