Macrostatistics
Retail sales y/y: 3.1% (forecast: 0.3%, anticipated: -6.7%)
GDP q/q (2 q/q): -2.6% (forecast -2% vs.
(forecast -2%, pres. 1.3%)
GDP y/y (June): 0.4% (early estimate 1.2%)
(forecast 1.2%, previous 4.8%)
Industrial production y/y (June): 3,9%
(forecast 4%, previous 0.7%)
The National Bureau of Statistics of China made several statements:
The economic basis for a long-term recovery is fragile.
The impact of the covid outbreak on the economy has not yet been fully eliminated.
The risks of stagflation in the global economy are increasing.
China faces declining demand and a supply shock.
China's economy faces structural and cyclical problems.
China will coordinate covid control and economic development.
