▪️ Gross domestic product (GDP) of China increased by 5.5% year on year and reached 59.3 trillion yuan (about $8.3 trillion). In the second quarter, the country’s GDP increased by 6.3% year on year.
▪️ Consumer goods retail sales in China increased 8.2% year on year, up 2.4 percentage points from the first quarter, to about 22.76 trillion yuan.
▪️ The country’s value-added industrial production, an important economic indicator for China, rose 3.8% year on year.
▪️ Fixed investment in China increased by 3.8% year on year.
▪️ The volume of production of additional services in the country grew by 6.4% year on year. The growth rate accelerated by 1 percentage point compared to the rate recorded in the first quarter.
▪️ China’s urban unemployment rate stood at 5.3% in the first half of 2023, down 0.2 percentage points from the first quarter. On a monthly basis, the indicator did not change compared to May and amounted to 5.2%.
▪️ China’s per capita income was 19,672 yuan, up 6.5% year on year in nominal terms. After deducting price factors, per capita disposable income rose 5.8 percent from the previous year.
We See What Others Cannot
