Intra-city transportation in major cities started to recover from troughs in December 2022, although the pace of recovery varied, reflecting the timing of the peaks in COVID-19 infections.
Offline retail recovery trailed industrial activities. The numbers of shopping centre visitors picked up, but remained well below last year’s levels, according to Fitch Ratings.
Fitch Ratings expects a continued recovery in offline retail in 2023 from easing mobility restrictions. However, uncertainty still lingers on the scale of the recovery, given on-going risks of further waves of COVID-19 outbreaks.
ALCHEMPro News Desk (DP)
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