Interestingly surveys suggest Chinese consumers are cautious despite lifting of the lockdown.
“A Morgan Stanley online survey of 2019 consumers in 19 provinces last week found that while most respondents—86%—were leaving the house for work, most were still reluctant to go out to shop, eat or socialize. And 69% said they would go out for essentials only, down from 75% in early March—still extremely high.” (Source: WSJ).
The chart below is also interesting showing how activity across a set of indicators has fared so far in China post the lunar new year as the country opens up.
In short – activity will take some time to recover.
