Trends show continued upward momentum in China's economic performance
17 May 23 2 min read
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.
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’s leading economic index falls 0.2% in Mar: The Conference Board
- US real GDP up by 1.6% annual rate in Q1 2024: BEA advance estimates
- Bangladesh expected to eclipse 1.01% global GDP share by 2028
- Vietnam a hotspot for foreign investment, underlines IMF expert
- Indian retail sales rise 8% in March 2024: RAI survey
- China's 1-year loan prime rates remain unchanged
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)
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