China’s recession tests credibility for economic data

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Singapore—A severe recession for China’s economy during a year of intense political sensitivity for the Chinese leader Xi Jinping Beijing is testing the credibility of official economic data.

Figures for this month illustrated an economy in free fall In April, when the lockdown shut down shops and factories, rattled logistics networks and kept millions of people at home for weeks. That bleak picture was largely in line with signals coming from business surveys, corporate earnings and several non-official data sources, which previously pointed to a dramatic slowdown.