Tuesday, 26 September, 2017

China's GDP up 6.9% in Q2

Inflation drops to 16.10% — first time in 12 months Nigeria: Inflation Falls Marginally
Laurie Berry | 17 July, 2017, 21:35

Overall industrial production rose 7.6 percent in June from a year earlier, the government announced on Monday morning, an unexpectedly faster tempo than in May's 6.5 percent.

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.

The Chinese economy expanded 6.9 percent last quarter, the same as the previous three months and better than the 6.8 percent tipped in an Agence France-Presse survey.

According to China's official statistics, the economy should have grown 6.7 percent y/y if calculated from the GDP index (which is seasonally adjusted), 0.2 percentage points lower than the headline growth numbers.

Deducting inflation, the growth was 7.3 percent, exceeding the country's GDP growth of 6.9 percent for January-June, according to data from the National Bureau of Statistics (NBS).

This means that investment growth has already peaked in Q1, and a softening can be expected in the coming quarters, Commerzbank reported.

UDP to support NDA's Kovind
Samajwadi Party led by Mulayam Singh is supporting NDA's Candidate while Akhilesh Yadav's faction is supporting Meira Kumar. The leaders had to choose from the two contenders NDA candidate Ram Nath Kovind and opposition candidate Meira Kumar .

Fixed-asset investment in non-rural areas increased 8.6% in the first half of the year. That was higher than analysts' expectations of a 6.8 percent expansion.

These stronger-than-expected figures come amid the introduction of policies to reduce debt levels (and, by extension, investment), as well as property controls to subdue a potential bubble.

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

On a quarterly basis, GDP added 1.7 percent from 1.3 percent in the first quarter matching estimates.

The government has trimmed its growth target for this year to about 6.5 percent, after it expanded 6.7 percent last year - its slowest rate in more than a quarter of a century.

Property also performed strongly, with fixed-asset investment climbing 8.6 percent in the first half of the year.

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