Drop in consumption is to be expected given travel restrictions all over the country. However I expected industrial production to stagnate rather than decrease. Guangdong dwarfs Shanghai in manufacturing capacity and that entire province has been doing relatively well all year, with only a city wide lockdown imposed in Shenzhen for one week so far.
Eh , I wouldn't fret too much over the 3% decrease in industrial production, although the number for the next quarter is more important, and if it's negative or about ~0% there is more cause for concern.
I think industrial production was harmed due to blocked highways (affecting distribution of supplies) for covid control and that a lot of suppliers were based on Shanghai which resulted in production bottlenecks
Yeah let's hope officials learned their lesson so another Shanghai level outbreak won't happen.
That's true. Just goes to show the ripple effects a lockdown can have if imposed on a major city like Shanghai.
Shenzhen however has done a Marvelous job containing the outbreak, 10/10 if there is a rating for that, way above shanghai for the matter of fact, some heads will need to roll after this display of incompetence
The entire Guangdong province has performed marvelously. Guangzhou also experienced sporadic outbreaks and they didn't even lock down. All these cities are proof that dynamic zero COVID works even in the face of a much more transmissible variant.
Shanghai mess wasn't caused by incompetence, it was sabotage
Any ideas on what could have caused the increase in unemployment before the Shanghai lockdown?
