The disruption from virus outbreaks intensified in November, with retail sales, investment spending and industrial output all contracting by the most month-on-month since the Shanghai lockdown. Early evidence suggests that activity has also remained subdued so far this month, despite the easing of COVID restrictions. That’s likely to remain the case for a while as many households try to minimize in-person interactions during the reopening wave of infections. Cooling external demand will also remain a near-term drag.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services