While much of the world’s output is grinding to a halt because of the coronavirus, China is slowly emerging from its shutdowns by restarting production at factories and resuming some flights.
A recovery in the world’s second-largest economy provides some relief for global manufacturers in the months ahead as the outbreak continues to wreak havoc in Europe, U.S., India and Latin America. Car sales in China probably hit a bottom last month and are set to gradually rebound as the spread of the virus slows and consumers return to shopping, an auto industry group said this month.
Other signs include Chinese subway traffic increasing 21% last week, and online sales of large appliances rebounding in both volumes and average prices on a week-to-week basis, according to Bernstein.
Much of China was closed for weeks starting in late January after the outbreak extended a Lunar New Year holiday break.