China GDP Growth Drops to 6.3%

China is reporting a GDP growth rate of 6.3% and unemployment of about 5.1%.

The agricultural production situation is relatively good, and the summer grain has achieved a bumper harvest. The total output of summer grain this year has increased by 2.1% , which is the same as the highest output in history in 2017 . Industrial growth was basically stable. In the first half of the year, the added value of industrial enterprises above designated size increased by 6% . In June , it increased by 6.3% , 1.3 percentage points faster than that in May . Service industry maintained a rapid growth in the first half of value added services grew by 7% , from the point of view of production index of the service sector, 6 month than 5 accelerated the month of 0.1 percentage points.

Consumption growth has generally accelerated. In terms of total retail sales of consumer goods, the first half of the year increased by 8.4% , slightly faster than the first quarter. The total retail sales of consumer goods in June increased by 9.8%, 1.2 percentage points faster than that in May.

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