Reuters: China’s economic performance was uneven in July as slowing factory output was offset by rising consumer spending Report.
Publish data Data released by the National Bureau of Statistics on Thursday showed that although the added value of industrial enterprises above designated size increased by 5.1% year-on-year in July, it was the third consecutive month of slowdown and lower than analysts’ expectations.
However, retail sales exceeded expectations, increasing by 2.7% year-on-year and 0.7% month-on-month. In the first seven months of this year, online sales accounted for more than a quarter of consumer goods sales, with sales increasing by 8.7% year-on-year, according to the National Bureau of Statistics.
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Julian Evans-Pritchard, head of China economics at Capital Economics, said: “The momentum of economic growth appeared to have stabilized last month, with a rebound in consumer spending and service activity largely offsetting a slowdown in investment and industrial production. As the government steps up policy support, we think the economy is likely to recover modestly in the coming months.”
The central government’s goal this year is to achieve 5% economic growth.
Data from the National Bureau of Statistics showed that in July, the national surveyed unemployment rate was 5.2%, up 0.2 percentage points from June and down 0.1 percentage points from the same period last year.
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Meanwhile, new home prices fell 4.9% year-on-year to a record low. Reuters – cited another set of data released by the National Statistics Office on Thursday.
although Historic measures China introduced to consolidate its Depression The real estate market picked up in May. Since then, some cities have implemented further home purchase incentives. Including Guangzhou.
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