China’s soaring Covid infections are keeping people home and causing a slump in travel and economic activity, according to the latest high-frequency data.
Several measures of mobility including traffic congestion in major cities, subway usage and the number of domestic flights have all slumped.
“The spike in Covid-19 infection rates following the easing of mobility restrictions will still constrain economic activity in the December-January time frame,” which is consistent with the experience of other Asian economies, said Guan Yi Low, head of fixed income for Asia Pacific at M&G Investments.lack of trustworthy statistics
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: China’s budget deficit hits record $1.1-trillion on Covid-Zero slumpChina’s broad budget deficit hit a record so far this year, showing how damaging the now abandoned Covid-Zero policy and the ongoing housing slump have been to the economy and to the government’s finances.
Read more »
Covid-19 or Common Cold? How to Pinpoint Symptoms This ChristmasIn previous years, in many countries, there were laws, policies and guidelines around what to do if you were ill (although these were at times conflicting and confusing). This year, it's pretty much down to personal responsibility and "common sense". There is still Covid-19-related guidance out there, for example from the World Health Organization. Yet the challenge is knowing if you have Covid-19 in the first place. Part of the problem is how many Covid-19 symptoms are common to other respiratory illnesses. The symptoms of newer Covid-19 variants are no longer as distinctive as they were with the original strain (for example, a "continuous cough" or a loss of taste or smell). The most common Covid-19 symptoms now include a sore throat, runny or blocked nose, and a cough without phlegm. These are also common cold and flu symptoms. In short, if in doubt, buy a Covid-19 test. Admittedly, this is easier said than done during a cost of living crisis. Testing is the only way to know for sure if your cough or sneeze is due to Covid-19, writes Simon Nicholas Williams for The Conversation.
Read more »
Business Maverick: UK grid set to pay record sum to keep the country’s lights onThe UK electricity grid faces record costs for power stations cranking up output in emergencies this year, as it grapples with balancing supply and demand in the face of Europe’s energy crisis.
Read more »
Business Maverick: Bankman-Fried released on $250-million bond in FTX caseThe co-founder of FTX has been released on bail after making his first US court appearance to face fraud charges over the collapse of the cryptocurrency exchange.
Read more »
Business Maverick: January 6 panel releases report blasting Trump for Capitol assaultThe House committee investigating the January 6 attack on the US Capitol issued a more than 800-page final report on Thursday, delivering a detailed case that former president Donald Trump incited the violence in a failed attempt to hold onto power.
Read more »