world economic news

World Economic News – Friday 15/07/2022

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CHINA

Gross domestic product grew only 0.4% on a yearly basis in the second quarter, following the first quarter’s 4.8% expansion, data from the National Bureau of Statistics revealed Friday. Analysts polled by Reuters had forecast growth of 1% in the second quarter.

HUNGARY

Hungary’s construction output advanced 9.9% year-on-year in May, well above the 3.2% gain in April. Output has been rising since May 2021, data from the Hungarian Central Statistical Office showed on Friday.

NEW ZEALAND

The manufacturing sector in New Zealand fell back into contraction territory in June, the latest survey from BusinessNZ revealed on Friday with a Performance of Manufacturing Index score of 48.7, falling beneath the boom-or-bust line of 50 that separates expansion from contraction for the first time in nine months.

EUROPE

Registrations of new passenger cars dropped d 15.4% year-over-year in June, faster than the 11.2% fall in May, the European Automobile Manufacturers’ Association, or ACEA, said on Friday. It was the twelfth successive month of decline, as supply chain issues continue to hurt production.