Analyst Pin-board China's 2H22 economic outlook
- China's Q2/2022 economic growth is slower than expected.
- Outlook for 2H22: Slow recovery.
- Some implications for Vietnam.
China's Q2/2022 economic growth is slower than expected
China's economic growth was only 0.4% yoy in Q2/2022, lower than the 4.8% growth rate of Q1/2022, and also the lowest growth rate since Q1/2020. Although the country's economic growth was lower than economists' forecast of 1.2%, economic indicators in June all showed a recovery. Specifically, in June 2022, industrial production increased by 3.9% over the same period, much higher than the increase of 0.7% in May, retail sales increased by 3.1% over the same period, compared to a decrease of 6.7% in May and fixed asset investment increased 6.1% in the first half of the year, remaining stable compared with the increase of 6.2% in 5M2022. Looking to the second half of the year, China's economic growth continues to face many challenges, including risks of Covid-19 resurgence, high commodity prices, and tightening monetary policies of global central banks.
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