China GDP Growth, Industrial Output Up

Postado Julho 17, 2017

Industrial output for June grew by 7.6 percent, well above the forecast of 6.5 percent, and retail spending rose by 11 percent compared to June the previous year.

Silver prices rose on Monday, building off last week's rebound as investors turned their attention to an active week dominated by corporate earnings and central banks.

Thus, China managed to exceed its target of 6.5 percent growth, set by the government for 2017.

China posted better-than-expected second quarter growth today, but analysts warned that the momentum will not last as authorities clamp down on rising debt.

China's second quarter GDP figures are due for release first thing Monday morning with economists expecting a resilient 6.8 per cent year-on-year read, above the official 6.5 per cent assumption.

Analysts had expected the world's second-largest economy to expand 6.8% in the April to June period.

Despite efforts to slow down the housing market, property investment grew by 8.5% in the first half, which is up from the same period in 2016. More than half the credit in its economy consists of loans from state-controlled banks to state-owned enterprises.

"Overall, the economy continued to show steady progress in the first half.but worldwide instability and uncertainties are still relatively large, and the domestic long-term buildup of structural imbalances remains", the statistics bureau said in a statement.

It was well above the 6.5% pace recorded in the year to May, and breezed past expectations for unchanged reading for the month.

And growth in both imports and exports also came in above expectations.

In terms of quarterly rates of change, GDP picked up from 1.3% to 1.7%.

Despite an expected deceleration in the rate of growth, senior officials, nonetheless, have suggested in recent months that China could easily meet this year's GDP growth target of around 6.5 percent.

China's fixed-asset investment from January to June was also up 8.6 percent in the first half of the year compared to average forecast of 8.5 percent.

"However, we must be aware that there are still many unstable and uncertain factors overseas and long-term structural contradictions remain prominent at home", Xing said.