August 18, 2024
China’s industrial production slows to 5.1% in July over the year against 5.3% in June and by 0.42% over the month. Monthly data shows the indicator has been in the downtrend from the beginning of the year as 3-month moving-average reached +0.23% in July (see chart).
The result is quite disappointing as it shows the sector is rather weak to help the economy meeting the target of 5% growth this year. Recently debates intensified about more stimulus needed to boost the consumer confidence and the police-makers regularly make hints such stimulus will follow.
⭐️Summary:
Data shows the sector demonstrates rather sluggish results for the economy to meet the target of 5% growth.