BEIJING • China’s economy showed some improvement this month as Covid-19 restrictions were gradually eased, although the recovery remains muted.
That is the outlook based on Bloomberg’s aggregate index of eight early indicators for June. The overall gauge returned to the neutral level after deteriorating for two straight months.
Economic activity in China picked up after financial hub Shanghai lifted its lockdown, allowing businesses to restart and most residents to leave their homes. That can be seen in a rebound in small business confidence, which started growing again after contracting for two months.
A survey of more than 500 smaller firms showed that “demand and production recovered strongly among manufacturing”, and export-oriented firms outperformed, according to Standard Chartered Bank economists Hunter Chan and Ding Shuang.
This story is from the June 28, 2022 edition of The Straits Times.
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This story is from the June 28, 2022 edition of The Straits Times.
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