China economic focus April 2022: Covid lockdowns weigh on growth

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China’s GDP is expected to slow further to 4.4% year-on-year in Q2 from 4.8% in Q1. Covid lockdowns across China in March and April have brought significant disruptions to the logistics, service and manufacturing sectors. As a result, fundamentals of the commodity markets also weakened in March and April. With new cases starting to drop in Shanghai, we expect recovery to start from mid-May at the earliest.

Table of contents

  • Highlights
  • The widespread impact of Covid lockdown
  • Logistics, service and manufacturing sectors take a hit
  • Supply-demand fundamental weakens for commodity markets
  • When can we expect recovery?
  • Appendix

Tables and charts

This report includes 14 images and tables including:

  • The wide spread of Covid-19 in China – March and April
  • Highway mobility plunged
  • Households prefer to save money
  • New confirmed cases in Shanghai
  • Wood Mackenzie’s proprietary China data
  • Manufacturing PMI
  • Trade
  • Property
  • Money supply (M2)
  • IP and retail sales
  • Inflation
  • Investment
  • Required reserve ratio

What's included

This report contains:

  • Document

    China economic focus April 2022: Covid lockdowns weigh on growth

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