Slowdown after festivals may hurt Q3 growth: Economists

Slowdown after festivals may hurt Q3 growth: Economists

MUMBAI: A post-festival moderation in growth, as indicated by various economic reports, could lead to lower-than-projected growth in the third quarter. While October saw a spike in economic activity, it tapered down in November as was first seen in indicators like payments.Current high-frequency indicators reflect a slowing of momentum, according to Kaushik Das, an economist…

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Chinese food delivery industry faces downturn, workers’ earnings drop by 1,000 yuan

Chinese food delivery industry faces downturn, workers’ earnings drop by 1,000 yuan

China’s food delivery industry is experiencing a downturn after significant growth during the Covid-19 pandemic. Delivery workers‘ earnings have dropped by nearly 1,000 yuan ($140) per month compared to five years ago, according to a report from the China New Employment Research Center.The $200 billion food delivery sector, the largest in the world by revenue…

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