Lockdowns correct forecasts // Monitoring of the world economy

China’s GDP in the second quarter of this year increased by only 0.4% in annual terms, a quarter earlier, the increase was much more significant – 4.8%. In quarterly terms, the indicator decreased by 2.6%, according to the National Bureau of Statistics of China. Industrial production in the country in the second quarter increased by 0.7% year-on-year. At the same time, in April, production volumes fell by 2.9% against the backdrop of lockdowns and local outbreaks of COVID-19, in May they increased by 0.7%, and in June the growth rate accelerated to 3.9%. The fastest growth was in the production of cars powered by new energy sources, solar batteries and telecom equipment. The Chinese Purchasing Managers’ Index in June, however, showed only a weak positive dynamics of business activity – amounting to 50.2 points (0.6 points more than in the previous month). China’s exports in June year-on-year in yuan increased by 22%, imports – by 4.8%. Capital investments, meanwhile, continued to grow – in April-June they increased by 4.2%. Including in April – by 1.8%, in May – by 4.6%, in June – by 5.6%. Generally‚Ķ .

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