China Industrial Output, Retail Sales Growth Miss Expectations
2018年8月14日 - 12:21PM
RTTF2
China's industrial production and retail sales grew
weaker-than-expected in July amid subdued expansion in fixed asset
investment, highlighting difficulties in the domestic economy that
are over and above the external uncertainties.
Industrial production growth held steady at 6 percent annually
in July, data from the National Bureau of Statistics showed
Tuesday. Economists had forecast a faster growth of 6.3
percent.
Retail sales grew at a slower pace of 8.8 percent year-on-year
in July, slower than the 9 percent increase in June. Sales were
forecast to climb 9.1 percent in July.
In the first seven months of 2018, fixed asset investment grew
5.5 percent from the same period of last year compared to 6 percent
increase in the January to June period.
Another report from the NBS showed that housing sales advanced
16.2 percent and sales of commercial units grew 5.5 percent.
The activity and spending data for July all came in below
consensus expectations, despite surprisingly strong external
demand, Julian Evans-Pritchard, an economist at Capital Economics,
noted.
The economist said this highlights the continued strong
headwinds to domestic demand from slower credit growth.
The urban unemployment rate rose to 5.1 percent in July from 4.8
percent a month ago, the statistics bureau reported.
In July, China's State Council decided to take more "proactive"
fiscal steps to help the economy grow in a reasonable pace amid
external uncertainties, but to avoid a strong stimulus.
The International Monetary Fund had urged Chinese authorities to
'stay the course' and not to loosen credit if growth falls below
target.
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