A laborer piles up steel pipes at a steel and iron factory
in Shenyang, Liaoning province. REUTERS/Sheng Li/File Photo
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.
READ:
China’s Q2 GDP growth slows to 0.8% q/q, raises stimulus expectations
China’s May factory output, retail sales growth miss expectations
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
