China's economy shows June recovery signs driven by rebounding U.S. exports, survey finds
By
Anniek Bao, Evelyn Cheng
Summary
China's economy showed signs of recovery in June 2023, driven by a rebound in exports to the U.S. and improvements in manufacturing and retail sales, according to the China Beige Book survey of 1,321 businesses. Luxury goods sales surged, though tourism-related spending remained weak. Analysts caution that sustained growth through July and August is needed for genuine optimism.
Source
bskyChina's economy shows June recovery signs driven by rebounding U.S. exports, survey findscnbc.comKey quotes
· 2 pulledManufacturing saw the clearest improvement. Retail sales recovered nicely.
The second quarter is ending on a more positive note than it began, but this performance will need to repeat itself in July and August for there to be legitimate cause for celebration.
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