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China statistics bureau links July economic activity to extreme weather
The bureau said Beijing will step up counter-cyclical policy adjustments and expand domestic demand as it assesses weaker conditions entering the third quarter.
Forexlive reports that a spokesperson for China’s statistics bureau said July economic activity was affected by external uncertainties and extreme weather conditions, alongside other factors, following a weak set of data.
The spokesperson also said Beijing would step up counter-cyclical policy adjustments and expand domestic demand to support economic activity.
Forexlive adds that the comments come as growth has already weakened markedly in the second quarter, with conditions described as looking less bright for the start of the third quarter.