Economic activity has begun to recover in Vietnam, Malaysia, and Thailand as Covid-19 lockdowns are lifted, said Maybank Kim Eng economists in a May 27 report.
Vietnam was the first Asean country to start unwinding lockdown measures on April 23, followed by Thailand and Malaysia in early May. The Philippines began loosening measures on May 16; Singapore will begin to exit from circuit breaker measures from June 2, but with a more cautious three-phase approach; and Indonesia plans to start a five-phase easing in early June.
Mobility metrics show the fastest recovery of activity in Vietnam, with movements to retail and recreation venues having rebounded to just 15 per cent below the baseline, compared to more than 60 per cent below baseline before measures began to lift.
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28 May 2020