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Your email address will not be published.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
Ukraine Latest: IAEA Mission Heads to Zaporizhzhia Nuclear Plant
Read More

Ukraine Latest: IAEA Mission Heads to Zaporizhzhia Nuclear Plant

An International Atomic Energy Agency mission left Kyiv and was on its way to the Zaporizhzhia nuclear power plant as part of an effort to evaluate and stabilize the situation there over coming days. Author of the article: Bloomberg News Bloomberg News 0wk[5brxra)hu(r{k)0b27yv_media_dl_1.png Bloomberg RSS (Bloomberg) — An International Atomic Energy Agency mission left Kyiv…
Canada bans Huawei from 5G network
Read More

Canada bans Huawei from 5G network

Firms that already have Huawei or ZTE gear installed will have to remove it by the end of 2027 Author of the article: Bloomberg News Erik Hertzberg and Brian Platt Publishing date: May 19, 2022  •  19 hours ago  •  3 minute read  •  5 Comments A staff member of Huawei uses her mobile phone at…
Bill to Privatize Petrobras Is Almost Ready, O Globo Says
Read More

Bill to Privatize Petrobras Is Almost Ready, O Globo Says

Brazil’s Energy Ministry is working on a bill to privatize state-owned oil giant Petroleo Brasileiro SA, known as Petrobras, with the same model the government used to privatize Eletrobras earlier this month, O Globo columnist Lauro Jardim said, without detailing how he got the information. Author of the article: Bloomberg News Rachel Gamarski Petroleo Brasileiro…