The Economic Data Of The First Half Of The Year Showed That The Cotton Textile Industry Was Affected By The Overall Situation

China's GDP growth rate in the first half of the year was - 1.6%, of which the economic growth rate in the second quarter changed from negative to positive, reaching 3.2%. Taking the main economic indicators into consideration, driven by the effective control of the domestic epidemic situation in the second quarter and the continuous introduction and implementation of a series of emergency control measures, the main economic indicators have rapidly rebounded from a sharp decline in the first quarter to become positive or narrowed, but some indicators are still in a state of year-on-year decline, and the pressure of economic recovery still exists.

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In the following, we summarize the changes of major domestic economic indicators and relevant data of cotton textile industry since 2000. First, we compare the changes of data during the period of SARS in 2003, the financial crisis in 2008 and the current new crown pneumonia, and the second is to compare the changes of the industry and the overall economy, reflecting the mutual influence of some indicators.

It can be seen that the impact of the new epidemic since January this year on the domestic economy is unprecedented. At the same time, the speed of economic recovery is also unprecedented and rapid. The specific height of recovery remains to be observed. At the same time, the cotton and textile industries have been affected by the overall economic growth, and they have enjoyed both prosperity and loss with the overall situation of the domestic economy.