by Martin Armstrong
Armstrong Economics
ASIA:
A survey by IHS Markit in late October of more than 6,600 companies in 12 countries found that companies in China reported the highest recovery rate from the coronavirus pandemic, followed by those in the US. US According to the latest available data from the US Bureau of Economic Analysis, multinationals’ majority-owned affiliates in China brought in sales of $392.7 billion in 2018, up 4.8% from a year ago. Respondents from both countries expected their output would recover to the pre-pandemic peak, the study found. The data also implied a two-month recovery period for businesses in China and three months for those in the US, versus an average of five months for the 48% firms globally that are waiting to recoup lost output, IHS Markit said.