• Linkdin

Trends show continued upward momentum in China's economic performance

17 May '23
2 min read
Pic: Shutterstock
Pic: Shutterstock

Insights

  • China fully resumed normal social and economic operation in April and several output and demand indicators registered faster growth.
  • The trends indicated continued upward momentum in economic performance.
  • Deflation is not visible now and will not appear in the next stage, as the slow-paced growth in consumer prices is mainly time-limited.
With China fully resuming normal social and economic operation in April and multiple output and demand indicators registering faster growth, the trends indicated continued upward momentum in economic performance.

Deflation is not visible in the country now and will not appear in the next stage, as the slow-paced growth in consumer prices is mainly time-limited, a senior official said.

The consumer price index edged up by 0.1 per cent year on year in April. On a monthly basis, the prices were down slightly by 0.1 per cent, according to data from the National Bureau of Statistics (NBS).

NBS spokesperson Fu Linghui said the market demand has a limited leverage on driving up prices in short term.

China witnessed a steady expansion in industrial output and consumption last month, NBS data showed.

The value-added industrial output went up by 5.6 per cent year on year, 1.7 percentage points higher than that of March.

The retail sales of consumer goods, a major indicator of the country's consumption strength, surged 18.4 per cent year on year to nearly 3.5 trillion yuan ($503 billion).

Meanwhile, the transmission of international factors will continue, which will bring down domestic prices, Fu said.

While major economic indicators have pointed to sustained economic development, Fu cautioned of challenges including the complex international situation and insufficient domestic demand.

Fibre2Fashion News Desk (DS)

Leave your Comments

Esteemed Clients

TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Stahl Holdings B.V.,
Advanced Search