“The V-shaped recovery in China”, JP Morgan comments

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

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