FOREX TradingCharts.com

Financial News: China's Industrial Output Growth Tops Expectations

China's Industrial Output Growth Tops Expectations

09/15/2020 - 01:56:00 (RTTNews)

(RTTNews) - China's industrial production grew more than expected in August as fiscal stimulus and exports boosted economic activity and retail sales recovered on domestic demand, official data revealed Tuesday.

Industrial production growth improved to 5.6 percent from 4.8 percent in July, the National Bureau of Statistics said. The rate was forecast to rise moderately to 5.1 percent.

At the same time, retail sales advanced 0.5 percent on year, in contrast to a 1.1 percent drop in July. Economists had forecast a marginal growth of 0.1 percent for August.

Fixed asset investment declined 0.3 percent during January to August period, which was smaller than the 1.6 percent decrease seen in seven months to July and the 0.4 percent fall economists' had forecast.

The urban unemployment rate came in at 5.6 percent in August versus 5.7 percent a month ago.

The tightening labor market and revival in consumer confidence suggests that the recovery in services activity has further to run, Julian Evans-Pritchard, an economist at Capital Economics, said.

What's more, growth in industry and construction is likely to remain strong since fiscal spending is set to be ramped up further during the rest of the year and the recent surge in industrial profit growth has also boosted the prospects for manufacturing investment, the economist noted.

Taken together, the economy is on track to return to its pre-virus growth rate before the end of the year, he said.

In a report released Tuesday, the Asian Development Bank said the developing Asia is set to enter its first recession in nearly six decades as the Covid-19 pandemic continues to disrupt global economic activity.

The region is forecast to shrink 0.7 percent this year. GDP is projected to rebound 6.8 percent next year.

The lender said the downturn is broad-based but China is an important exception. China's economy is forecast to grow 1.8 percent in 2020 before surging 7.7 percent next year.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Leading Economic Index Suggests Rebound May Be Losing Stream (09 hr(s), 57 min(s), 13 sec(s) ago)
(RTTNews) - A report released by the Conference Board showed a continued increase by its reading o ...Full Story»

U.S. Consumer Sentiment Improves Much More Than Expected In September (10 hr(s), 10 min(s), 13 sec(s) ago)
(RTTNews) - After reporting an unexpected increase in U.S. consumer sentiment in the previous mont ...Full Story»

Italy Current Account Surplus Rises For First Time Since April (10 hr(s), 39 min(s), 13 sec(s) ago)
(RTTNews) - Italy's current account surplus increased for the first time in four months in Jul ...Full Story»

Croatia Jobless Rate Steady At 9% In August (11 hr(s), 10 min(s), 13 sec(s) ago)
(RTTNews) - Croatia's unemployment rate remained unchanged in August after easing in the previ ...Full Story»

Poland's Industrial Output Rises Less Than Expected (12 hr(s), 0 min(s),13 sec(s) ago)
(RTTNews) - Poland's industrial production grew less than expected in August, data from Statis ...Full Story»

Russia's Central Bank Keeps Rate On Hold (13 hr(s), 23 min(s), 13 sec(s) ago)
(RTTNews) - Russia's central bank left its key interest rate unchanged at a record low as wide ...Full Story»

Italy's Industrial Orders Rise In July (14 hr(s), 35 min(s), 13 sec(s) ago)
(RTTNews) - Italy's industrial orders and turnover increased for the third consecutive month i ...Full Story»

Eurozone Current Account Surplus Falls In July (14 hr(s), 49 min(s), 13 sec(s) ago)
(RTTNews) - The euro area current account surplus declined in July due to a fall in primary income ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Leading Economic Index Suggests Rebound May Be Losing Stream

09/18/2020 - 10:27 AM (RTTNews)
(RTTNews) - A report released by the Conference Board showed a continued increase by its reading o ...Full Story>>

U.S. Consumer Sentiment Improves Much More Than Expected In September

09/18/2020 - 10:14 AM (RTTNews)
(RTTNews) - After reporting an unexpected increase in U.S. consumer sentiment in the previous mont ...Full Story>>

Italy Current Account Surplus Rises For First Time Since April

09/18/2020 - 09:45 AM (RTTNews)
(RTTNews) - Italy's current account surplus increased for the first time in four months in Jul ...Full Story>>

Croatia Jobless Rate Steady At 9% In August

09/18/2020 - 09:14 AM (RTTNews)
(RTTNews) - Croatia's unemployment rate remained unchanged in August after easing in the previ ...Full Story>>

Poland's Industrial Output Rises Less Than Expected

09/18/2020 - 08:24 AM (RTTNews)
(RTTNews) - Poland's industrial production grew less than expected in August, data from Statis ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.