China's retailers reel from strict Covid-19 lockdowns with first decline in sector in 2 years

Last month, the retail sector shrank for the first time in about two years - a drop of 3.5 per cent from a year ago. PHOTO: REUTERS
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BEIJING - Consumers in China are tightening their purse strings and bracing themselves for tough times ahead as Covid-19 lockdowns and job fears weigh on spending.

Retailers have been hit hard and are increasingly concerned about their business prospects.

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