China virus check – week ending June 29

CHINA ADVISORY - Report 01 Jul 2020 by Andrew Collier

Our latest data for economic activity in China shows a general improvement in trends:

1) Coal had a positive bias for the week.

2) Iron ore blast furnace operating rates trended upward but remain below year-earlier levels.

3) Traffic congestion fell slightly W/W but is above year-ago levels.

4) Expressway traffic was also higher than in 2019.

5) Underground metro rail was relatively flat, with an increase in Shanghai over the weekend.

6) The price index for freight logistics showed little change and is in line with historical trends.

7) Commercial property transactions have rebounded strongly.

8) Job searches rose W/W but are below 2019 levels due to the state-led policies that year.

9) Car sales were weak.

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