World's second-largest economy China's retail sales fall to lowest in over 2 years

Retail sales of the world's second-largest economy, China, slumped to its lowest in over two years while factory output plunged, official data showed. It's the biggest slump since March 2020 as Chinese consumers remained mostly at home amid coronavirus restrictions. This also comes amid China and its business hub Shanghai adhering to strict coronavirus measures, negatively affecting supply chains.