China industrial production May 2020

China industrial production May 2020


Imports in June rose for the first time since the health crisis hit the economy, as government stimulus stoked demand for commodities, while exports, fuelled by medical goods, also rose in a sign the recovery is gaining traction.

China's producer price index, a gauge of factory gate prices, decreased 3.0% in June, compared with May's 3.7% decrease, official data showed earlier. In May, China’s industrial production, a gauge of manufacturing, mining and utilities sector activity, grew strongly, a sign of economic recovery. June factory gate prices fell in annual terms for the fifth consecutive month but at a slower-than-expected rate. The survey is due to be released on Friday. The fallout from the global pandemic, however, has left factories operating below strength amid slack demand. China's industrial production rose by 4.4 percent year-on-year in May 2020, missing market consensus of a 5 percent growth, suggesting the economy is still struggling to get back on track after the COVID-19 crisis.

"Retails sales during this year's Labour Day holiday were still down 6.7 per cent from last year, and revenue for the catering and accommodation industries only recovered to around 70 per cent of normal levels," said Nomura.It looks like the email address you entered is not valid.Copyright© Mediacorp 2020. That was driven by a 96.9% jump in the price of pork due to an outbreak of African swine fever that has disrupted supplies.Exports, reported earlier, rose 3.5% in April over a year ago, rebounding from the previous month’s 13.3% contraction. China’s industrial production rallied by 3.9% y/y in April, up from the 1.1% y/y fall in March, indicating a partial recovery from the total shutdown of industrial activity from late-January to …

On an annual basis, factory output plummeted 23.4% in Economic growth “now relies largely on domestic demand,” said Tommy Wu of Oxford Economics in a report.
Gauges ranging from trade to producer prices have all reflected signs of a further pick-up in manufacturing, but analysts say factories could have a tough time maintaining momentum as pent-up demand wanes and heavy flooding across large swathes of China disrupts economic activity.

Industrial output records best result on record in May The figure marked the best result on record. Official data shows China's industrial robot production rose by 29.2 percent year on year in June to 20,761 units, reaching its highest growth rate in the first half of 2020.
The seasonally-adjusted IHS Markit Flash Composite Purchasing Managers’ Index (PMI) rose to 57.6 in July, after June’s 51.7.

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China industrial production May 2020