Built Business Tough

China’s First-Quarter GDP Plunges on Coronavirus

BEIJING—China’s overall economy plummeted six.8% in the first three months of the yr compared with a yr earlier, the country’s first these kinds of fall given that Beijing commenced reporting quarterly gross domestic product or service in 1992.

The sharp contraction in the world’s 2nd-premier overall economy, reported Friday, features a foreshadowing of the pain predicted in the U.S. and all-around the globe as the coronavirus pandemic shuts borders, halts organization action and cripples international supply chains.