China Records First Ever Contraction in Quarterly GDP on Coronavirus

BEIJING—China’s economic system shrank 6.eight% in the first three months of 2020 in contrast with a year previously, the first this sort of contraction given that Beijing began reporting quarterly gross domestic product in 1992.

The collapse foreshadows the soreness predicted in the U.S. and close to the world as the coronavirus pandemic shuts borders, halts business enterprise action and cripples world-wide source chains.