China June industrial output beats forecast; coal output hits record high


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China June industrial output beats forecast; coal output hits record high

On Monday, the 15th of June 2019, data released from China’s commerce department had revealed that the tariff-war-struck nation’s industrial output had grown 6.3 percent last month on a year-on-year basis, leaning towards a stabilization after May’s 17-year low figure.

Apart from that, Monday’s (July 15th) China data had insanely beaten an analysts’ forecast of 5.2 percent rise and calmed down global financial markets, which had been fretted that the world’s second largest economy had been entering into a recession.

Other China data released on Monday (June 15th) had revealed a more upbeat portrait, while retail sales in China rose by 9.8 percent on a year-on-year basis, indicating that a bundle of monetary stimulus had steadied cash flow in China’s domestic markets.

Aside from that, coal output of China, the largest coal producer in the world, had rocketed to a record-high in June, as mining companies had been jacking up production ahead of a peak-summer season, which would ramp up demands for electricity.

According to Monday’s (July 15th) data from eh National Bureau of Statistics of China, world’s top coal producer had mined out 333.35 million tons of coal in June, 6.7 percent up from a month earlier and 10.4 percent up on a year-on-year basis.