China’s much-vaunted economic rebound after its emergence from strict zero-Covid lockdown measures has yet to fully materialize, prompting some economists to speculate that further fiscal stimulus or monetary policy easing could be coming down the pipeline.
China’s services and consumption data came in strong in April, aligning with expectations of consumers leading the charge as pent-up demand is unleashed — but the rebound in the call for services isn’t yet spilling over into greater demand for goods, partly because unemployment remains high.
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