ibusinesslines.com
ibusinesslines.com October 23, 2017


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

The 2nd Round of the Brexit Talks Begins
At a one-day session in June both sides agreed on a broad timetable for the talks. The European Council President said it was "below expectations".

Himax Technologies (NASDAQ:HIMX) Earning Positive News Coverage, Analysis Shows
The current share price indicates that stock is -26.85% away from its one year high and is moving 64.14% ahead of its 52-week low. Canada Pension Plan Investment Board increased its position in shares of Himax Technologies by 2,325.6% in the first quarter.

Barings LLC Has $2067000 Position in Western Gas Partners, LP (NYSE:WES)
It dropped, as 15 investors sold Shawcor Ltd shares while 73 reduced holdings. 115 funds opened positions while 706 raised stakes. Advisory Rech Inc stated it has 36,491 shares or 0.03% of all its holdings. (NYSE:T) for 6,086 shares. (NASDAQ:CPRT).

SunPower Corporation (SPWR) Earning Somewhat Positive Press Coverage, Analysis Shows
Merriman Wealth Management LLC acquired a new stake in SunPower Corporation during the first quarter worth approximately $122,000. BidaskClub raised shares of SunPower Corporation from a "hold" rating to a "buy" rating in a research note on Tuesday, June 27th.

39 abducted Indians could be in Badush jail: Sushma
This comes days after the ministry of external affairs on said that the Centre was leaving no stone unturned in finding and saving 39 Indian in Mosul.

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.

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.