China’s Growth Recovery Still Patchy Despite Better Outlook
- Catering, tourism spending jump during Lunar New Year holiday
- Car, home sales still lagging as rebound appears uneven
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A surge in Chinese spending last month has spurred more optimism about the country’s economic rebound, though weakness among manufacturers and sales of cars and homes still suggest the recovery isn’t yet on sure footing.
Catering, tourism and other in-person businesses recorded big jumps in revenue over last week’s Lunar New Year holiday, recent data has shown. That added to strong figures from an official survey released this week on services activity, which rebounded as people in China became more willing to travel and spend money following the end of strict Covid Zero curbs.