Igor Kutyaev
China’s retail sales rose by 2% year-on-year in June 2024, falling short of market forecasts of 3.3% and notably slowing from a 3.7% gain in the previous month, marking the 17th consecutive month of growth in retail trade, albeit the softest in the sequence.
On a monthly basis, retail activity tumbled 0.12% in June 2024, the first decline since July 2023, from a downward revised 0.23% rise in the previous month. For the first six months of the year, retail turnover grew by 3.7%.
China’s industrial production advanced by 5.3% year-on-year in June 2024, beating market expectations of a 5% gain, but easing from a 5.6% growth in the previous month, marking the softest growth in industrial production since March.
Monthly, industrial activity expanded by 0.4%, accelerating from a 0.3% rise in May. On a year-to-date basis, industrial output was 6.0%.
Furthermore, China’s surveyed unemployment rate stood at 5% in June 2024, unchanged from the previous month and matching market forecasts.
Considering January to June, the urban surveyed jobless rate averaged 5.1%, a decrease of 0.2 percentage points compared to the corresponding period in the previous year.
A separate release showed that China’s fixed-asset investment rose 3.9% year-on-year from January to June 2024, in line with market forecasts, following a 4% growth in the prior month. On a monthly basis, China’s fixed asset investment grew by 0.2% after a flat reading in the preceding month.
China’s industrial capacity utilization rate increased to 74.9 percent in the second quarter of 2024 from 74.5 percent in the same period a year earlier.
The Shanghai Composite rose 0.1% to 2,974.5 as investors reacted to mixed economic data on Monday.
ETFs: (FXI), (KWEB), (CQQQ), (MCHI), (ASHR), (YINN), (TDF), (CHIQ), (GXC), (EWH), (KBA), (YANG), (CXSE), (CAF), (CWEB), (PGJ), (KURE).
Currency: (CNY:USD)
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