Pictured here are locals on a subway in Zhengzhou city, Henan province, on Dec. 5, 2022, after the municipality said negative nucleic acid test results are no longer needed to ride public transportation.Vcg | Visual China Group | Getty ImagesBEIJING — China’s Covid lockdowns are having a lessening impact on the economy for the first time since early October, according to Nomura.However, analysts at the Japanese bank warned that the road ahead will be challenging as China doesn’t appear to be ready for a spike in infections.As of Monday, the negative impact of China’s Covid controls on its economy fell to 19.3% of China’s total GDP — down from 25.1% a week ago, Nomura’s Chief China Economist Ting Lu and a team said in a report.Last week’s 25.1% figure was higher than that seen during the two-month Shanghai lockdown in the spring, according to Nomura’s model. In early October, the figure …
