China’s July activity indicators all miss expectations

Author of the article: BEIJING — China’s industrial output expanded 3.8% in July from a year earlier, slowing from a 3.9% rise in June, official data showed on Monday, as a nascent recovery in the world’s second-largest economy faltered. The growth was much weaker than a 4.6% increase that analysts had forecast in a Reuters…
China’s July activity indicators all miss expectations

Author of the article:

BEIJING — China’s industrial output expanded 3.8% in July from a year earlier, slowing from a 3.9% rise in June, official data showed on Monday, as a nascent recovery in the world’s second-largest economy faltered.

The growth was much weaker than a 4.6% increase that analysts had forecast in a Reuters poll.

Retail sales rose 2.7%, after rebounding 3.1% in the previous month. That also missed analysts’ forecast for 5.0% growth.

Fixed asset investment grew 5.7% in the first seven months of the year from the same period a year earlier, versus a forecast 6.2% rise and down from a 6.1% jump in January-June.

China’s economy narrowly escaped a contraction in the June quarter, hobbled by the lockdown of the commercial hub of Shanghai, a distressed property market and persistently soft consumer spending.

Risks to growth remain as many Chinese cities, including manufacturing hubs and popular tourist spots, impose lockdowns after fresh outbreaks of the more transmissible Omicron variant emerged.

(Reporting by Kevin Yao and Stella Qiu ; Editing by Sam Holmes)

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
PIMCO Global Income Opportunities Fund and PIMCO Tactical Income Fund Launch At-The-Market Equity Program
Read More

PIMCO Global Income Opportunities Fund and PIMCO Tactical Income Fund Launch At-The-Market Equity Program

Not for distribution to United States newswire services or for dissemination in the United States TORONTO, Jan. 20, 2023 (GLOBE NEWSWIRE) — PIMCO Global Income Opportunities Fund (TSX: PGI.UN) (“PGI”) and PIMCO Tactical Income Fund (TSX: PTI.UN) (“PTI”, and together with PGI, the “Funds”) announce that they are each launching an at-the-market equity programs (each,…
Monterey Park, an Asian cultural hub, shaken by shooting
Read More

Monterey Park, an Asian cultural hub, shaken by shooting

Author of the article: The Associated Press Terry Tang And Deepa Bharath Published Jan 26, 2023  •  Last updated 5 hours ago  •  5 minute read Join the conversation A man holds a sign during a vigil outside Monterey Park City Hall, blocks from the Star Ballroom Dance Studio, late Tuesday, Jan. 24, 2023, in Monterey…
Trump Attempt to Stoke Auto Worker Tension With Biden Is Failing
Read More

Trump Attempt to Stoke Auto Worker Tension With Biden Is Failing

Donald Trump wants the United Auto Workers, with its almost 1 million active and retired members, to endorse his candidacy for president by saying that Democrats are “setting the stage for the destruction of American auto production.” Author of the article: Bloomberg News David Welch Published Jul 22, 2023  •  2 minute read Workers assembly…