China’s economy is running at full speed again, with industry in particular „humming“, while the retail sector is increasingly making up for its losses from the spring. This is shown by the latest figures for industrial production (7% y/y) and retail sales (5% y/y) from November. At the same time, sentiment readings from the industrial and service sectors have almost universally climbed to multi-year highs. The momentum of the Corona recovery has thus continued unabated in the closing quarter of the crisis year 2020. Economic growth is currently expected to return to pre-Corona levels, and we expect a growth rate of around six percent in the current fourth quarter. In 2020 as a whole, China is one of the very few economies to achieve positive economic growth at all.It borders on bitter irony that the country of origin of the pandemic has become one of the winners of the crisis….
