China GDP slows, inflation still a worry
China reported its third quarter gross domestic product rose 11.5 percent from last year but the rate was less than the 11.9 percent in the second quarter.
Despite the quarter-to-quarter slowdown in the robust economy and a slight easing of inflation, China’s major stock index fell about 5 percent Thursday on concerns of additional tightening measures to prevent the economy from overheating. China has raised interest rates five times this year.
China's consumer price index eased to 6.2 percent in September from the 11-month high of 6.5 percent in August, Xinhua reported quoting the National Bureau of Statistics. Despite the drop, the rate for the first nine months of the year stood at 4.1 percent.
NBS spokesman Li Xiaochao said “inflationary pressure is still there” in the economy, China Daily reported.
The third quarter GDP was driven by rapid expansion in investment, retail sales and exports, the China Daily reported.
Li said investment, helped by expansion in credit, is the largest contributor to the economy, accounting for 41.6 percent of the growth, the report said.
Chinese exports in the first nine months of this year rose 27.1 percent to $878.2 billion, against imports of $692.6 billion, producing a trade surplus of $185.7 billion, up $75.8 billion from last year’s total. // Copyright 2007 by United Press International
- Moldova ranks 4th in the world by amount of remittances
- IMF on Molodva's progress to meet its commitment to reforms
- China's inflation eases due to tightening measures
- National Bank of Moldova forecasts higher inflation rate in 2011
- March inflation in Moldova was 0.8%
- China's economy expands 9.7% as inflation accelerates
- March inflation in Transnistria reaches 1.04%
- Asian economic recovery solid but inflation a risk
- Green economies for growth, urges UN
- G20 meeting urged to act on food price inflation
- Asia, US helps Mercedes Benz sales hit record high in 2006
- Cricova: The Largest Underground Wine Cellar in the World
- What does Remortgage mean?
- Dutch bear profit rises 26 percent
- Foreign direct investment in India doubles during 2006
- Greece: Socialist government's budget deficit of 12.5% caused debt crisis
- Toyota in talks to build new China plant
- Walt Disney profit up 39 percent
- DaimlerChrysler is not planning to manufacture trucks in India