China: unstable recovery, + 6.4% industrial production in July

BEIJING, 16 AUG – China’s economic recovery is “unstable and irregular”. Retail sales and industrial production slow down in July with the restrictions related to Covid-19: according to the National Statistics Office, they grew, respectively, by 8.5% per year (+ 12.1% in June and + 11.5% analysts’ expectations) and 6.4% (+ 8.3% in the previous month and + 7.8% estimated by the markets). “Given the combined impact of sporadic Covid-19 outbreaks and natural disasters in some regions, the economic recovery is still unstable and erratic,” said Office spokesman Fu Linghui. Unemployment rose to 5.1% from 5% in June. (HANDLE).


Source link

Leave a Comment