Post-Lockdown Economic Recovery in China: April and May

Using several data sources, this white paper documents facts of China’s post-lockdown economic recovery in April and May 2020. The main findings are summarized as follows.

1. Truck flows and online consumption suggest a strong recovery.
2. The recovery of online job posts stagnated.
3. Smaller firms cut online job posts more dramatically in the first quarter. Such asymmetry became less pronounced in April.