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Montevideo, May 23rd 2019 - 22:59 UTC

Chinese economy could be stabilizing shows latest set of economic figures

Sunday, August 11th 2013 - 04:32 UTC
Full article 37 comments
However the annual growth rate is 7.5%, the lowest expansion in two decades However the annual growth rate is 7.5%, the lowest expansion in two decades

China's economy could be stabilising, the latest set of economic figures from the country has suggested. Factory output in July rose 9.7% compared with a year ago, ahead of expectations and up from the previous month's figure of 8.9%. Consumer prices held steady in July, rising 2.7% from a year earlier, matching the rate seen in June.

China's growth rate has been slowing at its fastest pace since the global financial crisis in 2008. In the second quarter of the year, China's economy grew by 7.5% compared with the previous year, down from 7.7% in the January to March period.

The government has set a target of 7.5% growth for the whole of 2013, which would mark the lowest rate of expansion in more than two decades. In other data released on Friday, the producer price index fell 2.3% in July from a year earlier compared with a drop of 2.7% in June.

However, although July's retail sales jumped by 13.2% compared with last year, that was a slower pace of growth than the 13.5% recorded between June 2012 and June 2013.

On Thursday, trade figures showed export and import growth rebounded in July.

Analysts welcomed the latest data, but said more evidence would be needed before it would be safe to say whether the economy was beginning to pick up again.

Categories: Economy, International.
Tags: China.

Top Comments

Disclaimer & comment rules
  • Klingon

    7.5% growth and they are bitching about that? Most countries couldn't come close to that in their wildest dreams.
    Chinese were investing in raw products and commodities while the US was betting big on Facebook and other crap of no use.

    Aug 11th, 2013 - 08:29 am 0
  • yankeeboy

    China's stats are about as accurate as Indec
    Don't believe a word of what they say

    Aug 11th, 2013 - 09:51 am 0
  • ChrisR

    2 yankeeboy

    Yes, it's Chindec time again.

    Aug 11th, 2013 - 09:55 am 0
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