Page 2 - The Impact of COVID-19 on Chinas Consumption
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The raw data from this research demonstrates that China’s o ine consumption took a
severe hit due to the pandemic outbreak, resulting in a loss of approximately 1.2% of China’s 2019
GDP in the 12-week post-outbreak period. This research further suggests that during the rst few
months of the outbreak, the drop in o ine consumption was highly sensitive to day-to-day
pandemic severity relative to the less frequent changes introduced by disease control measures,
income shocks, or supply disruptions. The unease provoked by the pandemic during the rst few
months directly impacted people’s willingness to consume, rendering a signi cantly negative impact
on China’s economy.
severe hit due to the pandemic outbreak, resulting in a loss of approximately 1.2% of China’s 2019
GDP in the 12-week post-outbreak period. This research further suggests that during the rst few
months of the outbreak, the drop in o ine consumption was highly sensitive to day-to-day
pandemic severity relative to the less frequent changes introduced by disease control measures,
income shocks, or supply disruptions. The unease provoked by the pandemic during the rst few
months directly impacted people’s willingness to consume, rendering a signi cantly negative impact
on China’s economy.
