China Growth Tracker
22 July 2020
- China's Q1 GDP dropped by 6.8% due to Covid-19 virus effects.
- Latest indicators suggest business activity is still falling month-on-month, but improvements are evident.
- New car sales bounced back to grow at a rate of 11.6% in June.
- Total retail sales fell by 1.8% YnY in June, an improvement on April-May.
- China's Industrial Production has recovered from the Q1 crash, maintaining solid growth in June.
- The Li Keqiang Index fell in May to a near 2 year low.
Quarterly Real GDP Growth Q1 2007 – Q2 2020
Annual Real GDP Growth 1961-2019
Data for the last 50 years shows near continuous strong growth in the Chinese economy.
Leading & Composite Indicators
OECD Composite Leading Indicator
The (CLI) is designed “to provide early signals of turning points between expansions and slowdowns of economic activity” The CLI for China uses the following components: Production of chemical fertilizer (tonnes), monetary aggregate m2 (Renminbi). Production of manufactured crude steel (tonnes), 5000 Industrial Enterprises Diffusion Index, Overseas order level (%), buildings (m2), Production of motor vehicles (number), and the Shanghai Stock Exchange Turnover (Renminbi).