ibusinesslines.com
ibusinesslines.com May 22, 2018


Chinese economy delivers pleasant second-quarter growth surprise

17 July 2017, 04:24 | Kelvin Horton

Chinese economy delivers pleasant second-quarter growth surprise

Chinese economy delivers pleasant second-quarter growth surprise

Industrial production grew at a 7.6% year-on-year clip last month, after increasing by 6.5% in May (consensus: 6.5%).

Retail sales rose 11 percent in June a year earlier, higher than analysts' estimate of 10.6 percent.

China's average per capita disposable income grew 8.8 percent year on year to 12,932 yuan (about 1,913 US dollars) in the first half of the year, data showed Monday.

That was the same as during the first quarter of 2017 but slightly better than the 6.8% pace which economists had been anticipating.

On a quarterly basis, China's growth improved to 1.7% in Q2 compared to previous year. This means that investment growth has already peaked in Q1, and a softening can be expected in the coming quarters, Commerzbank reported.

The recent crackdown on financial risks has driven a slowdown in credit growth, which will weigh on the economy during the second half of this year, the economist noted.


Property sales, measured by floor area, grew 21.4 percent, more than double the 10.2 percent increase in May, Reuters calculations showed.

"It is encouraging for global growth as well because China is the second largest economy on the planet".

At a national financial work conference on Saturday, Chinese President Xi Jinping called for stronger financial regulation to contain risks.

Many analysts expected China's economy to slow as those policies kicked in. While the country's debt stands at 277% of GDP, it has introduced tighter lending restrictions on banks to help rein in consumer debt and soaring house prices.

Last week's data showed that China's exports, as well as imports in June, grew more than expected from a year before, which may offset sluggishness in other parts of the economy in the second quarter of this year.

The service sector expanded 7.7 per cent year-on-year in the first half, outpacing a 3.5-per cent increase in primary industry and 6.4 per cent in secondary industry, according to the NBS.



Other News

Trending Now

Elon Musk: "Regulate AI Before it's Too Late"
Musk isn't the only one spewing AI-hating, controversial headline-worthy quotes in the hope to hit the headlines. Often, too, the law simply hasn't anticipated the sorts of behaviors and issues that technology has instigated.

Another Pippa Middleton sighting Friday at Wimbledon
Wedge sandals finished off the look, along with a pop of colour by way of her bright green Tory Burch cross-body bag. Kate accessorised the look with a white Victoria Beckham tote and gold earrings by Cassandra Goad.

Agents seize 480 pounds of pot shipped from Mexico to Warren area
It's not the first time marijuana was found hidden in cars shipped from Mexico, Balzano said. The Portage County Sheriff's Drug Task Force is working with the DEA in the investigation.

Andre De Grasse wins 200 metres in Morocco
Reigning double Olympic sprint champion Thompson in contrast was all smiles after annexing the 100m in a meeting record 10.87sec. Jamaica's Kimberley Williams and Tajay Gayle will be participating in the women's triple jump and men's long, respectively.

30-year-old Hull City star completes Derby switch
The 30-year-old midfielder made 23 Premier League starts last season as Hull were relegated to the Championship. The England global has left the Tigers after the Rams activated the release clause in his contract.

Girl, 15, dies after adverse reaction to drug
Police attended both the hospital and Bakers Park in Newton Abbot which was where the teenager in question was located. A 15-year-old girl has died after suffering an adverse reaction from a suspected drug, Devon and Cornwall Police said.

Netanyahu in Paris to commemorate Vel d'Hiv deportation of Jews
Netanyahu said the Nazis and their French collaborators "shattered the lives of thousands of French Jews at Vel' d'Hiv". Over 13,000 Jews were rounded up by French police on July 16 and 17, 1942 in Paris and transported to Auschwitz.