China’s NBS: Foundation for economic recovery not solid yet

Dhwani Mehta FXStreet

Following the release of the key economic data from China, the country’s National Bureau of Statistics (NBS) released a statement, via Reuters, expressing their outlook on the economy.

Key quotes

China is able to stabilize the economy in 2022.

Foundation for economic recovery not solid yet.

China's employment situation generally stable.

Expect China's economy to improve in 2023.

China's benign inflation will create room for macro policies.

Confident about consumption recovery in 2023.

Employment, incomes will improve, help boost consumption.

Final consumption accounted for 32.8% of 2022 GDP growth.

Capital formation accounted for 50.1% of 2022 GDP growth.

Net exports accounted for 17.1% of 2022 GDP growth.

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Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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