![]() ![]() The asynchronous recovery between production and demand caused by the pandemic's impact has contributed to the currently low CPI prices. The sustainability of growth has been impacted by inadequate driving forces, prompting calls for further easing of macroeconomic policies to counteract deflation risks.Ĭhinese economic officials have addressed the deflation issue, with the NBS spokesperson stating that the core CPI, excluding food and energy, rose by 0.7% year-on-year in the first half of the year, indicating relative stability. ![]() In the past few months, both economic and financial data have exhibited signs of weakness, leading to an overall slowdown in China's economic growth. However, delving into the quarter-on-quarter figures, the second quarter still achieved a growth rate of 0.8%, dispelling the earlier fears of a "double-dip recession" and deflation-induced downturn. Moreover, there have been concerns regarding the potential onset of deflation as the domestic Consumer Price Index (CPI) recorded "zero growth" in June, sparking pessimism about economic development. In the second quarter, the economy saw a growth rate of 6.3%, which fell short of the market's general expectation of around 7%. While this rate is higher than the first quarter's 4.5%, it's essential to note that it's primarily influenced by the low base effect from the previous year. Recently, China's National Bureau of Statistics (NBS) released its economic data for the first half of the year, indicating a 5.5% growth in the economy during this period.
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