China announced major economic statistics for the two months of January and last month, showing that consumption trends have slowed down since December last year, and investment in real estate development continues to show a significant decline. , has become a burden on the economic recovery.
On the 18th, China's National Bureau of Statistics announced major economic statistics for the two months of January and last month.
Of these, "industrial production" increased by 7.0% compared to the same period last year, due to increased demand for EVs (electric vehicles), and the growth rate has increased since December last year.
On the other hand, the growth rate of retail sales, which indicates consumption trends, has slowed down since December last year, with the increase of 5.5% due to consumers' tendency to save money.
In addition, "real estate development investment" decreased by 9.0% in the two months up to last month compared to the same period last year, which was smaller than the decline in the whole year last year, but it was still a significant decline, and the decline was due to stagnation in domestic demand and prolonged real estate demand. Market weakness is weighing on economic recovery.
In order to expand domestic demand, the Chinese government has launched measures to encourage people to replace their home appliances and cars, and the central bank has also taken measures to improve the real estate market, including a series of additional monetary easing measures. It will be interesting to see how effective it will be in the future.