BEIJING, Jan 13 (Reuters) – Residents of China are increasingly on the move after the country’s sudden reversal last month of heavy COVID-19 curbs, despite a surge in infections, pointing to a gradual recovery in consumption and economic activity this year.
Mobility and spending data — from subway passenger traffic in three of China’s biggest cities to flight volumes to box office collections — show upticks since late December, after Beijing abruptly ended three years of “zero-COVID” policy earlier in the month.
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Still, some indicators show activity has not fully recovered to levels of just a few months ago, and many economists remain cautious about the pace of revival following the faster-than-expected reopening.
“The pullback in retail spending has been increasingly broad-based, suggesting that it will take time to reverse the negative psychological impact on Chinese consumers brought on by three…
