Shanghai’s March Industrial Output Falls 7.5% on Covid Lockdowns

What’s new: Business disruptions caused by Covid-19 lockdown measures dragged down Shanghai’s industrial output by 7.5% in March from last year, the first decline in two years, according to a senior city official.

First-quarter industrial output rose 4.8%, compared with 34.5% growth recorded in the same period a year ago, said Wu Jincheng, director of the Shanghai Municipal Commission of Economy and Informatization, at a Friday briefing.