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Coronavirus, floods are likely to slow China’s economic growth

Mount Equity Group Tokyo, Japan > News > Markets > Coronavirus, floods are likely to slow China’s economic growth

China’s economic growth is anti-summer floodscoronavirus Officials announced controls on Monday after consumer sales and other activities weakened in July.

Chinese Economy National Bureau of Statistics spokesman Hu Lin Hui said the slowdown from last year’s pandemic is still on a recovery track, but it is likely to weaken as it was relatively strong in the first half.

Mr Fu said at a news conference that the main economic growth trends this year will go from high to low.

Fu did not predict growth.Private sector forecasters say it’s the second largest in the world Economy It should be easier to reach 8% than last year’s depressed level.

July retail sales growth settled at 8.5% compared to a year ago, below the consensus forecast of 10.9%, down from 12.1% last month. Factory output increased 6.4%, below the forecast of 7.9%.

Luis Kais of Oxford Economics said in a report that growth momentum had plummeted.

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