China's NBS: In Q2, Economic Pressure Went Up Significantly.

China's National Bureau of Statistics (NBS) issued a statement via Reuters after the publication of the June activity figures outlining their viewpoint on the economy.

July 15, 2022 - 11:00 AM 232 views

China's NBS: In Q2, Economic Pressure Went Up Significantly.

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© China's NBS: In Q2, Economic Pressure Went Up Significantly.

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China's National Bureau of Statistics (NBS) issued a statement via Reuters after the publication of the June activity figures outlining their viewpoint on the economy.

Key Headlines

·         The economic effects of the COVID outbreak have not yet been fully mitigated.

·         The economic foundation for a sustained recovery is unstable.

·         Risks of stagflation are rising on a worldwide scale.

·         China is dealing with both a supply shock and a decline in demand.

·         China's economy is experiencing structural and cyclical problems.

·         Expect a steady stabilisation and recovery of the Chinese economy.

·         Hard-won economic growth of 0.4% in Q2.

·         To stabilise the economy in the face of external uncertainty, effort is required.

·         Young people are still under a lot of employment-related pressure.

·         Because of the moderate policy stimulus, consumer inflation is lower than in other large economies.

·         China's consumer pricing increases should continue to be moderate.

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