China’s economic growth has improved over the past three months

China’s economic growth has improved over the past three months
China's economic growth has improved over the past three months

The Corona epidemic also marked a significant improvement in China’s economic growth over the past three months. China’s economic situation has improved dramatically in the past three months as it struggles to cope with the Corona virus. China, the world’s second-largest economy that has managed to control the corona virus unexpectedly quickly, has seen a massive recovery in the past three months, officials say. Many countries heading for a recession are set to follow suit as China’s economy recovers and imposes stricter rules. According to a report released by the Chinese National Bureau of Statistics on Thursday, GDP grew by 3.2 percent in the April-June period. China’s economy contracted about 6.8 percent in the first four months of the year. But a full recovery of the economy will take some time. Chinese retail sales, meanwhile, fell slightly from forecasts. Compared to the same month last year, retail sales have declined by 1.8 percent this year. Although the corona virus seems to be under control in China, people are still reluctant to go to the market to buy goods. Although the bureau released new details, it did not bring happiness to the Asian stock market. Shares of Shanghai and Hong Kong fell nearly 1 percent as of noon on Thursday. Stephen Innes, a strategist at Execorp, said people can’t go to the market and buy goods unless they have confidence and enthusiasm. The retail sector has been playing an important role in China’s economy. China’s economic growth has improved.

Chinese leaders have also been looking at retail sector indicators rather than trade and investment to boost the economy. At a time when demand for Chinese goods abroad is weak, domestic consumption has been accelerating. However, according to INS, it is easier to normalize supply than demand. Luiz Quiz of Oxford Economics said he believes China’s economic situation will improve significantly by mid-2020. According to the China Bureau of Statistics, urban unemployment rose to 5.7 percent in June. It was 5.9 percent in the previous month. Industrial production rose 4.8 percent in June. Such production had increased by 4.4 percent in May. At a news conference in Beijing on Thursday, Liu Aihua, a spokesman for the bureau, said China’s economy was “steadily improving.” However, there is still pressure on China’s national resurgence as the Corona epidemic poses challenges to China’s main trading partners. Of the world’s largest economies, only China is expected to grow in 2020. China’s economic growth has improved.

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