Using several data sources, this white paper documents facts of China’s post-lockdown economic recovery in April and May 2020. The main findings are summarized as follows.

  1. Truck flows and online consumption suggest a strong recovery.
  2. The recovery of online job posts stagnated.
  3. Smaller firms cut online job posts more dramatically in the first quarter. Such asymmetry became less pronounced in April.

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The Industrial Revolution in Services

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Post-Lockdown Economic Recovery in China: February and March

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