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Despite Massive COVID Wave, High-Frequency Indicators Show China’s Traffic Congestion Rebounds

Zero Hedge | Dec. 30, 2022

China abruptly reversed the zero-Covid regime that isolated the world’s second-largest economy for nearly three years. High-frequency data shows highway congestion is rising, which could indicate a surge in crude demand in 2023.

BloombergNEF published a note that found China’s road congestion index rebounded from the previous week. The index includes highway congestion from 15 major cities, which jumped by 58.2% versus a week earlier. And what this means is that mobility is increasing across China despite the resurgence of Covid-19 infections.

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