Chinese economic activity data for June 2023
Further. National Bureau of Statistics (NBS) says
- June crude oil production rose 1.9% Y/Y to 17.5mln metric tons and H1 crude output rose 2.1% Y/y to 105.1mln tons
- June crude production the highest since 2015
- June natural gas output rose 5.5% Y/Y, H1 natgas output rose 5.4% Y/Y
The data point that will most concern Chinese Communist authorities is that the June Unemployment Rate amongst 16 to 24 year-olds is 21.3%. This is up from the May reading at 20.8%.
