# Covid-19 Delta Variant Pummels China’s Services Sector

> China's services sector contracted sharply in August as a wave of coronavirus infections, including the Delta variant, triggered new lockdowns across the country. The downturn was described as an unexpectedly severe blow to the pandemic recovery. The article is truncated and offers limited detail beyond this.

- Date: 2021-08-31 · published 2021-08-31T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/45786-covid-19-delta-variant-pummels-china-s-services-sector
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Lockdowns reduce consumption and industrial activity, which weakens China's demand for imported feed ingredients and other commodities. The effect on prices depends on how long restrictions last.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-12-05 | [Yuan jumps past 7 per dollar as China eases some COVID curbs](https://feedsoft.ai/events/38449-yuan-jumps-past-7-per-dollar-as-china-eases-some-covid-curbs.md) | -0.9% | -1.5% |
| USDCNY | 2023-03-27 | [Egypt's poultry sector reels from currency turmoil, driving up prices](https://feedsoft.ai/events/37020-egypt-s-poultry-sector-reels-from-currency-turmoil-driving-up-prices.md) | +0.0% | +0.4% |
| USDCNY | 2023-11-16 | [China’s yuan weakens on persistent property sector woes - Markets - Business Recorder](https://feedsoft.ai/events/12025-china-s-yuan-weakens-on-persistent-property-sector-woes-markets-business.md) | -1.3% | -1.9% |
| USDCNY | 2022-05-13 | [China’s yuan extends declines to new 19 month low, set for 6th weekly drop](https://feedsoft.ai/events/9859-china-s-yuan-extends-declines-to-new-19-month-low-set-for-6th-weekly-drop.md) | -1.1% | -1.1% |
| USDCNY | 2023-01-03 | [China’s COVID-19 Situation and Possible BoJ’s Policy Tweak to Shape FX Trend in January: Kenanga](https://feedsoft.ai/events/12762-china-s-covid-19-situation-and-possible-boj-s-policy-tweak-to-shape-fx-trend-in.md) | -1.8% | -2.1% |

## Sources

- wsj.com: https://www.wsj.com/articles/covid-19-delta-variant-pummels-chinas-services-sector-11630386778

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.