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Your email address will not be published.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
Ford to cut 3,800 engineering, administration jobs in Europe
Read More

Ford to cut 3,800 engineering, administration jobs in Europe

BERLIN — Ford plans to cut 3,800 product development and administration jobs in Europe in the next three years, the company said on Tuesday, citing rising costs and the need for a leaner structure as it pivots production to electric vehicles. Around 2,300 jobs will go at the carmaker’s Cologne and Aachen sites in Germany,…
As Ukraine forces counter near Kyiv, Russia scales back goals
Read More

As Ukraine forces counter near Kyiv, Russia scales back goals

Author of the article: Reuters Gleb Garanich and Natalia Zinets MARIUPOL/LVIV — Ukrainian President Volodymyr Zelenskiy pushed for further talks with Russia as Moscow signaled it was scaling back its ambitions to focus on territory claimed by Russian-backed separatists in the east after attacks elsewhere stalled. In an announcement on Friday appearing to indicate more…
RRD Agrees to Sell its Canadian Operations to DATA Communications Management Corp.
Read More

RRD Agrees to Sell its Canadian Operations to DATA Communications Management Corp.

CHICAGO — R.R. Donnelley & Sons Company (“RRD”), a global provider of marketing, packaging, print and supply chain solutions, today announced that it has entered into a share purchase agreement (the “Purchase Agreement”) with DATA Communications Management Corp. (TSX: DCM)(OTCQX: DCMDF) (“DCM”), a provider of marketing and business communication solutions. Under the terms of the…
COP27 delivers climate fund breakthrough at cost of progress on emissions
Read More

COP27 delivers climate fund breakthrough at cost of progress on emissions

Author of the article: Reuters Valerie Volcovici and Dominic Evans and William James Publishing date: Nov 20, 2022  •  14 hours ago  •  5 minute read Join the conversation * COP27 climate summit ends after marathon weekend negotiations Financial Post Top Stories Sign up to receive the daily top stories from the Financial Post, a division…