![]() On a regional basis, exports fell year-over-year to China’s three biggest customers, ASEAN, the EU, and the U.S., by 17.4%, 15.1%, and 20.8% respectively. Meanwhile, imports fell 12.4%, reflecting the cautious consumer mood. ExportsĮxports fell by 14.5% in July, marking the third straight month of declines, and hitting lows not seen since February 2020. On an annual basis, China’s GDP expanded 6.3% year-over-year, below the forecasted 7.3% rate. This follows a more robust 2.2% figure in Q1, which was driven by pent-up demand released by the end of COVID-era lockdowns. However, growth seems to have slowed to a crawl, down to 0.8% (quarter-to-quarter) in the second quarter of 2023 driven by weakness in the Tertiary Sector, which includes retail spending and the troubled real estate sector. GDPĬhina’s annual GDP growth rate has averaged 9% since 1978, when the country opened itself up to the global market under Deng Xiaoping. Six Red Flag Indicators on China’s Economy 1. Data comes from the National Bureau of Statistics of China, the People’s Bank of China, and the General Administration of Customs, to see what is flashing red. In this visualization, we look at six important indicators that point to China’s economy slowing down. ![]() The past several months have seen an avalanche of bad economic news for China, putting the country’s post-pandemic recovery, and global economic growth, in jeopardy. The People’s Republic of China is the world’s second-largest economy, responsible for one quarter of global GDP growth this millennium-so when the country catches a cold, the world notices. Six Red Flags Pointing to China’s Economy Slowing Down
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |