China’s Economy Slows While Steel, Aluminum Production Mixed
What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:
- The Chinese government reported that the country’s economic growth slowed to 0.4 percent in the second quarter compared to the same period a year earlier. It was China’s worst economic performance in two years. The slowdown was largely due to COVID-19-related shutdowns.
- As Reuters reported, China’s primary aluminum production increased 3.2 percent from June 2021 to June 2022 to reach 3.39 million tons. Output declined 0.9 percent from May 2022 to June 2022.
- Reuters also reported that crude steel output fell 6.0 percent from May to June and 3.3 percent year-over-year.