According to JP Morgan, China is experiencing a V-shaped economic recovery and 57% growht is expected in Q2.
“V-shaped recovery is still taking shape in China for 2Q, and we expect a strong rebound to 57% growth quarter-on-quarter after a 41% contraction in 1Q.
Active infections are now at one-tenth of the peak level, and our insurance team shortened the infection curve in China by three weeks to the end of May under their base-case scenario. In our tracking of high-frequency data, 80% of migrant workers have returned to work, the resumption rate for critical or large-scale enterprises is 90%, and coal consumption has returned to around 70-80% of normal levels”
Junior Trader Radi Djuma