industrial production China it grew by 3.7% year-on-year in July, a figure that represents a slowdown compared to the data for June (4.4%), according to official data released this Tuesday by the National Statistics Office (ONE) of the Asian country.
The figure for the seventh month of the year fell short of the most widespread forecasts among analysts, who expected an advance of around 4.7% compared to the same period in 2022.
Of the three large sectors into which the ONE divides the indicator, mining advanced by 1.3%, while manufacturing increased by 3.9% and the production and supply of electricity, heating, gas and water, 4.1%.
The institution also released other statistical data today, such as retail sales, a key indicator to measure the state of consumption and which increased by 2.5% year-on-year, a lower figure than the 3.1% reached in June and which remains to be seen. below what was expected by the experts, who advanced that it would increase by 4.6%.
The official unemployment rate in urban areas stood at 5.3% at the end of July, above the 5.2% registered in June, but still within the maximum limit that the authorities imposed for this year, of 5, 5%.
The institution did not publish the data on unemployment among young people between 16 and 24 years of age, which had set maximums above 20% in previous months.
For its part, investment in fixed assets increased by 3.4% year-on-year in the first seven months of the year after having done so by 3.8% until June, which translates into a decrease that the ONE preferred to express in month-on-month terms. (-0.01%).
Analysts had predicted that said indicator would grow year-on-year to 3.8%. Within this indicator, there was a year-on-year increase in spending on infrastructure (+6.8%) and manufacturing (+5.7%).
It also reflected a fall of 8.5% in spending on real estate development in the first seven months of the year (in the first half of the year it had fallen by 7.9%) due to the crisis that continues to affect the sector.
Source: Larepublica
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