China Records First Ever Contraction in Quarterly GDP on Coronavirus

BEIJING—China’s financial system shrank six.8% in the 1st three months of 2020 as opposed with a 12 months before, the 1st such contraction since Beijing started reporting quarterly gross domestic products in 1992.

The collapse foreshadows the agony expected in the U.S. and about the globe as the coronavirus pandemic shuts borders, halts company activity and cripples world-wide supply chains.

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