Friday, August 9, 2013

China industrial output jumps to five-month high - News - Economy - The Voice of Russia: News, Breaking news, Politics, Economics, Business, Russia, International current events, Expert opinion, podcasts, Video

China industrial output jumps to five-month high - News - Economy - The Voice of Russia: News, Breaking news, Politics, Economics, Business, Russia, International current events, Expert opinion, podcasts, Video

click link

snip

 Gross domestic product (GDP) in China - seen as a key driver of global growth - expanded 7.8 percent in 2012, its slowest annual pace in 13 years.

Growth slipped to 7.7 percent in the January-March period and slowed further to 7.5 percent in the second quarter, raising alarm bells among economists over possible further weakness.

But after Friday's figures Lu told AFP: "The momentum, if maintained, would in fact make everyone's estimation about the second half rather pessimistic, so we will likely see a round of GDP forecast upgrades soon."

The output figures came on the heels of robust trade figures Thursday.

Exports and imports, which had contracted in June, rebounded in July, growing 5.1 percent and 10.9 percent year-on-year respectively, according to Customs.

Two-way trade rose 7.8 percent year-on-year, slightly lower than the government's eight percent target for this year but "showing a stabilising and recovering trend", Customs said.
July's output growth figure was higher than June's 8.9 percent and marked the best performance since the 9.9 percent recorded for January and February, which were released together due to distortions related to Chinese New Year.
Read more: http://voiceofrussia.com/news/2013_08_09/China-industrial-output-jumps-to-five-month-high-8515/

No comments: