Economy

China's Factory Output Posts First Increase For 2020 But Consumption Still Weak

China's Factory Output Posts First Increase For 2020 But Consumption Still Weak”

Industrial production climbed 3.9% in April from a year earlier, data showed on Friday, following a 1.1% fall in March. The production of oil, coal, metals and electricity all increased as plants restarted operations last month.

However, China continues to face major challenges in its services sector, particularly retail, and as the pandemic sweeps the rest of the globe, affecting other major economies and trading partners. The central bank has pledged to step up policy measures to support the economy, although it still cautioned against property bubble risks.

The National Bureau of Statistics said China's economy was recovering but still faced many challenges as the virus spread globally. Earlier this week, data showed producer prices falling at their sharpest pace in four years, as industrial demand weakened.

Many Chinese factories are grappling with slashed or canceled overseas orders after reopening as global demand has remained tepid.

While the country's exports saw an unexpected rebound in April, driven in part by demand for medical supplies, imports saw a sharper-than-expected dive, signaling weak domestic demand.

China's surveyed unemployment rate for last month was 6 percent, slightly higher than the previous month.

More news: Skinny-Shaming! Sharon Osbourne FIGHTS BACK For Adele vs. Haters

The government has been struggling to reverse a doubling of pork prices over the past year, brought on by an outbreak of African swine fever, leading to months of CPI readings above the 3-percent annual target rate for 2019.

New yuan loans hit 1.7 trillion yuan (about 240 billion US dollars) in April, a year-on-year rise of 681.8 billion yuan, the People's Bank of China (PBOC) said.

Investment in fixed assets nationwide (excluding rural households) dropped 10.3% in the first four months from the same period last year; the year-on-year decline was 16.1% over the first three months of this year.

Funds raised by China's property developers fell 10.4% in January-April, but they were better than a 13.8% drop for the first three months of the year.

The investment in residential buildings went down 2.8 percent year on year to 2.42 trillion yuan in January-April, 4.4 percentage points lower than the decline in the first quarter. Final decision will be at the discretion of the Taipei Times.



Like this

loading...
loading...

Latest


17 May 2020
Toothpaste trip sidelines Augsburg coach from Bundesliga restart
Also Thursday, it was confirmed that Bundesliga clubs will be allowed to use five substitutions per game when the season resumes. According to a statement on the club's website , Herrlich apologised saying, " I made a mistake by leaving the hotel .

17 May 2020
Georgia DPH distributes remdesivir to hospitals, including Augusta University Medical Center
Indian medical science and drug control authorities will have to first decide how they want to use the drug on patients. The patients being given the experimental treatment will be part of an investigation into the drug's ability.

17 May 2020
3M more Americans file new unemployment claims, Labor Dept. says
Iowa Workforce Development reported a total of 16,735 initial unemployment claims filed between May 3 and May 9. Initial claims are simply an application for benefits and may be denied because a claimant is ineligible.

17 May 2020
Child dies in France from rare disease linked to virus
It is the first death of its kind in France following similar child fatalities that are being investigated in London and NY . The Kawasaki disease is characterized by high fever, rashes, abdominal pain, conjunctivitis and a red or swollen tongue.

16 May 2020
Takeaways From Nirmala Sitharaman's Announcements For Defence, Aviation
We have now come to a conclusion that we shall notify a list of weapons and platforms which shall not be allowed for import. The Centre will also establish facilities in PPP mode to use irradiation of technology for food preservation.

16 May 2020
Pioneering NASA Mathematician Katherine Johnson Dies at 101
In 1959, she married US Army officer James Johnson, and their family grew to include six grandchildren and 11 great-grandchildren. But her work at NASA's Langley Research Center eventually shifted to Project Mercury, the nation's first human space program.

16 May 2020
Eurovision: Europe Shine a Light takes place
Eurovision: Europe Shine A Light will take place on Saturday 16 May on BBC One and BBC iPlayer from 7pm. It will not be a competition, but instead be a celebration of the 41 Eurovision entries this year.

16 May 2020
Hollywood Bowl Cancels Summer Concert Season
Prior to this, LA Phil had already laid off all of its part-time employees and cut wages by 35 percent across the board. It is the first time in 98 years there won't be a summer concert season at the celebrated venue, which opened in 1922.

16 May 2020
Cuomo says NY will begin "aggressive" antibody testing this week
As of Saturday, 236,732 New Yorkers have tested positive for the new coronavirus, according to the state's coronavirus tracker. Antibody testing will be able to determine the total number of people infected, he said.

16 May 2020
Germany falls into recession amid pandemic shutdown
Factory orders fell 15.6 per cent in March, and industrial production fell 9.2 per cent, while exports fell 11.8 per cent. That revision put Germany into a technical recession, defined as two consecutive quarters of economic contraction.