China’s industrial output experienced a surprise acceleration in June, growing at 4.4% compared to 3.5% in May. However,
demand in the post-COVID economic recovery remains tepid.
The National Bureau of Statistics (NBS) released this data on Monday, exceeding analyst expectations for a 2.7% increase,
according to a Reuters poll.
Retail sales in June grew at a slower rate of 3.1% compared to a 12.7% jump in May. This falls slightly below the expected
growth rate of 3.2%.
Fixed asset investment expanded by 3.8% in the first half of 2023, exceeding expectations for a 3.5% rise. It grew by 4%
in the January-May period.
China’s economic recovery following the pandemic has significantly slowed after a strong start in the first quarter.
The central bank has pledged additional support to boost activity, consumer confidence, and business confidence.
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