(Bloomberg) China partly shut the world’s third-busiest container port after a worker became infected with Covid, threatening more damage to already fragile supply chains and global trade as a key shopping season nears.
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Spain’s government is set to trim its 2021 growth forecast after renewed pandemic restrictions led to a worse-than-expected first quarter and pushed back the country’s recovery.
An increase in Covid-19 cases forced some Spanish regions to impose restrictions on movement at the beginning of the year, dealing a blow to companies’ hiring plans and dragging on growth in the first quarter, Economy Minister Nadia Calvino said in a Bloomberg TV interview on Thursday.
“That is the main reason why we are going to revise downward our forecasts for this year,” Calvino said. “We were expecting to have around 7% growth this year and it may be smaller due to the delay the one quarter delay in terms of the recovery.”