China’s industrial output up 10.8% in July
China’s industrial output rose 10.8% in July from a year earlier, after gaining 10.7% in June, the Chinese National Bureau of Statistics told LTN Tuesday.
It is the second time since September last year that output saw double-digit growth after the government put in place powerful fiscal and monetary policies to boost economic growth.
The July growth rate was 3.9 percentage pts lower than a year earlier level, but 0.1 percentage pt higher than June. The first seven months saw the growth of industrial output at 7.5% from a year earlier, higher than the 7 % for the first half of Y 2009 In July, the output of heavy industry rose 11.3% and light industry was up 9.2 %.
All 39 sectors posted year-on-year growth, with textiles up 8.6%, and chemical materials and products up 11.7%.
Coal output rose 14.8% from a year earlier to 260MM tonnes, and Crude Oil output dropped 0.3% to 16.14MM tonnes. Steel output climbed 12.6% to 50.68MM tonnes. Power generation increased 4.8%.
China’s retail sales up 15.2% in July
China’s retail sales, the main measure of consumer spending, rose 15.2% in July to 993.7B Yuan (US$142B) from a year earlier, the China National Bureau of Statistics (NBS) told LTN today. The growth rate was 8.1 percentage pts lower than July last year, but 0.2 percentage pts higher than that in June 2009.
The country’s retail sales in the first seven months rose 15% to 6.86 Trillion Yuan from the same period a year earlier. The growth rate was 6.7 percentage pts lower than the same period of last year and equaled that of the first half of Y 2009 In July, urban sales of consumer goods rose 15.1% to 679.4B Yuan, while sales in rural areas were up 15.4% to 314.3B Yuan.
The sales volume of the wholesale and retail sectors rose 15.2% to 841B Yuan. Hotel and catering sectors rose 16.8 to 136.5B Yuan. Other industries posted an overall growth of 2.6%to 16.2B Yuan.
Sales of grain and Crude Oil products were up 11.9%, garments were up 19.6%, daily necessities 16.3%, automobiles 32% and construction materials 25.8%.
China’s producer price index (PPI) fell 8.2% in July
China’s producer price index (PPI) fell, a major measurement of inflation at the wholesale level, fell 8.2% year on year in July, the China’s National Bureau of Statistics announced today. The decline compared with a 7.8% drop in June and 7.2% drop in May from the same period in Y 2008.
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