China’s NBS: Momentum of the economic recovery slowed in July

Following the release of the July activity numbers, China’s National Bureau of Statistics (NBS) released a statement, via Reuters, expressing their view on the economy.

Key headlines

Momentum of China's economic recovery slowed in July.

Expect China's property sector to gradually stabilize.

China's employment situation generally stable, but employment pressure still exists.

There is no basis for sharp rises in pork prices.

Expect 2022 consumer inflation to remain at a reasonable level despite relatively sharp rises in some months.

China's economy remains resilient despite facing difficulties.

Expects China's economy to continue to recover.

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