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Economy China rose 0.4% year-on-year in the second quarter of the year, a period marked by a wave of outbreaks linked to the omicron variant of the coronavirus that has forced lockdowns in various parts of the country, including the metropolitan area Shanghai (East).
Official data released today by the National Statistical Office (ONE) lower than expected by analysts who predicted growth of about 1% this quarter.
Growth in the world’s second-largest economy slowed in the second quarter from a year-on-year 4.8% recorded in the first three months of the year, when tight restrictions were put in place in the face of the worst COVID-19 outbreaks in two years.
ONE It also contributed to the growth of the Chinese economy in the first half of the year, which was 2.5%, which is a slowdown compared to the 12.7% achieved in the first half of 2021, although at the time the statistics were in positive territory. from the comparative base of the first half of 2020, the period when the coronavirus pandemic broke out COVID-19.
ONE: report
Compared to the first quarter, seasonally adjusted GDP contracted 2.6%, highlighting the impact of the lockdown on the Asian giant’s economy last spring.
But, according to a representative ONE Fu Linghui, the Chinese economy posted a “strong recovery” this year after the country took “strong measures” to “counter the impact of unforeseen factors.”
“The second quarter shows positive (year-on-year) growth despite downward pressure,” Fu said.
China: position of the country
China other indicators were released today, such as industrial production, which rose 3.9% year-on-year in June due to a 0.7% rise in the previous month and a 2.9% contraction in April, when the impact of restrictions on economies were more visible.
For its part, retail sales, an important measure of consumption, rose 3.1% in June after falling 6.7% in May to 11.1% in April.
Investments in fixed assets rose by 6.1% in June compared to 6.2% in May and 6.8% in April.
Meanwhile, the index, which measures home prices, fell 0.5% in June, following a 0.1% drop recorded in May and a 0.7% rise in April.
According to official statistics, the unemployment rate in June was 5.5% on an annualized basis, while in May it was 5.9% and in April it was 6.1%.
(As reported by EFE)
Source: RPP
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