numbers in terms of economic contraction in the first quarter in China? Yeah, well, the thing that jumped out from the very beginning, when I say that we started reporting numbers in mid-February, that was almost a month, at least two to three weeks before anybody else was putting out any type of numbers on this whatsoever. And the depth of contraction, the breath of weakness, was really eye-popping. These are the worst numbers we've ever seen, and there's never been anything close. Every sector was in severe contraction. Every region we track was in severe contraction. Every sub-sector, I think, except maybe one or two were in severe contraction. Every headline metric we saw was showing severe weakness. So this wasn't something we'd ever seen before. And what was interesting is that it was less surprising looking at the data in February when you were looking at all these firms in lockdown for shutdowns of certain sectors like property and, of course, manufacturing factories being shut (19/57)
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