China’s Recovery Slows Amid Holiday

The video discusses the impact of the Lunar New Year on China's manufacturing sector, noting a typical moderation in activity during this period. It highlights a drop in manufacturing activity in February compared to January. The video also examines export orders and PMI metrics, noting a contraction in new export orders for the first time since September. Despite this, there is optimism for strong export performance similar to 2020. Seasonal effects on PMI and high frequency data, such as electricity consumption, suggest a quicker return to work post-Lunar New Year compared to 2020, indicating a more optimistic economic outlook.

What impact does the Lunar New Year have on China's manufacturing activity?

How did the new export orders measure change in February compared to previous months?

What were the expectations regarding China's export performance in the first half of the year?

What seasonal effects are mentioned regarding the PMI metrics?

How did the shutdown of factories during the Lunar New Year in 2021 compare to 2020?