China’s economy slumped at a rapid pace in December as the country battled its worst-ever COVID outbreak. Yet signs that China’s major cities may be passing the peak of infections may mean the worst is over for the economy.
Subway traffic in major economic centers like Shanghai, Guangzhou, and Shenzhen is recovering from lows in mid-December, according to data compiled by Bloomberg. That recovery could imply that people are feeling well enough to return to work. (Chinese officials have started to say that COVID-positive individuals who have mild or no symptoms could return to work so long as they take necessary personal precautions.)
