China's Enterprise Revenue Growth Decelerated in July

China's Enterprise Revenue Growth Decelerated in July
The software industry continued to outperform the other remaining few of China's industries that were almost not affected by the COVID-19 crisis
China's Enterprise Revenue Growth Decelerated in July

In July 2020, the sales revenue growth of China's industrial enterprises inched up by 0.8% y/y after a 1.6% y/y increase in the previous month. The amount of revenue decreased on a monthly basis to RMB 8.7tn from RMB 9.4tn in June.

China's Enterprise Revenue Growth Decelerated in July
 
The software industry continued to outperform the other remaining few of China's industries that were almost not affected by the COVID-19 crisis. In July, the aggregate sales revenue of China's software industry rose by 19.4% y/y, accelerating from 16.4% y/y in the previous month.

Other industries that registered a positive y/y growth in July were food manufacturing (8.6% y/y), ferrous metal mining and dressing (5.4% y/y) and agriculture (3.6% y/y). Among the industries that declined the most in terms of revenue growth in July were coal mining and dressing (-19.1% y/y), non-ferrous metal mining and dressing (-17.4% y/y) and textile (-5.8% y/y).

Further data and analysis on China’s economy is available on the CEIC China Economy in a Snapshot – Q3 2020 report.

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4th September 2020 China's Enterprise Revenue Growth Decelerated in July