China's economy strengthens in July despite housing crisis, covid woes

The center of China's covid outbreak has shifted over the last month, with cases low in Shanghai and surrounding provinces but rising elsewhere, with some new lockdowns and restrictions being imposed

China’s economic recovery gained momentum in July as business activities resumed and confidence improved, despite disruptions from sporadic Covid outbreaks across the country. 

That’s the outlook based on Bloomberg’s aggregate index of eight early indicators for this month. The overall gauge was 5, a level indicating the economy is heating up. That was unchanged from June, which was revised up from the neutral level after data showed manufacturing started growing again and services expanded faster than in May. 

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Small business confidence improved on