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Skip Navigation LinksHome :: Markets/asset classes :: Foreign exchange :: China's growth moderates in Q2.

Monday, July 21, 2008

China's growth moderates in Q2.





China's growth moderates in Q2. According to news agency Reuters , figures of the National Bureau of Statistics show that China's annual GDP growth declined to 10.1% in Q2 from 10.6% in Q1 owing to a weakening in exports and owing to the tightening of monetary policy by the People's Bank of China (PBOC). The economy had registered a growth rate of 11.9% in 2007. Consumer inflation eased to 7.1% in June from 7.7% in May but the factory gate inflation for June increased to 8.8% from 8.2% in May. Royal Bank of Scotland economist Ben Simpfendorfer said that the PBOC was expected to loosen credit controls in H2. The rate of growth achieved by China in the first two quarters h as led to expectations that the growth rate for 2008 will exceed 10% for the sixth consecutive year.







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