Friday , August 12 2022

China's industrial Jewish product rose 4.8%, retail sales up 7.6%


Women workers work in a fabric factory in Huaibei, Anhui Province, Eastern China.

Jie Zhao | Corbis News | Getty Images

Growth in China's industrial output was slower than expected at 4.8% in July of a year earlier, official data showed on Wednesday, in the latest sign of falling demand in the world's second-largest economy, as the US rises. commercial pressure.

The July rate was the slowest since February 2002. Analysts surveyed by Reuters forecast that industrial output would rise 5.8% from a year earlier, slowing from 6.3% in June.

Fixed equity investment for the first seven months of the year was up 5.7%, according to data released by the National Bureau of Statistics, compared to an upside of 5.8% from analysts.

Fixed-asset investment, which accounts for about 60% of the country's total investment, grew 5.4% in January-July, compared to a 5.7% increase in the first six months of 2019.

Retail sales growth was also weaker than expected, increasing 7.6% in July of a year earlier, compared with 9.8% in June. Analysts polled by Reuters expected 8.6% growth.

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