Related News
China's Q2 GDP grows 7.6%, slowest in 3 years
By Wang Yanlin |
July 13, 2012, Friday
|
Online Edition
Online Edition
China's economic growth fell below 8 percent for the first time in three years in the second quarter, but it remained relatively stable compared with rates in other countries, the National Bureau of Statistics said this morning.
Gross domestic product expanded 7.6 percent from a year earlier in the April-June period, easing further from the 8.1 percent increase in the first three months.
The overall output of the world's second-largest economy grew to 22.7 trillion yuan (US$3.6 trillion) in the first half, up 7.8 percent year on year.
Sheng Laiyun, a spokesman at the bureau, said the slowdown is acceptable given worsening international conditions, and the growth rate is still higher than this year's target of 7.5 percent.
"China's economic performance is stable," Sheng said. "Globally, we have achieved a relatively good result despite of the slowdown."
Among the emerging markets, India reported an economic growth rate of around 5 percent in the second quarter, Brazil delivered a 1.2 percent rise, while South Africa was similarly weak, Sheng said.
Growth in developed countries was worse. The eurozone economy is likely to contract 0.3 percent in the second quarter, and the United States is also growing at a slower pace of around 1.6 percent in the same period.
But some economists feared that China will see a prolonged downturn. The Asian Development Bank yesterday slashed its estimate of China's 2012 growth to 8.2 percent from a previous 8.5 percent projection made in April.
According to the bureau, China's manufacturing sector expanded 8.3 percent on an annual basis to 11.1 trillion yuan in the first half, while the service sector advanced 7.7 percent to 9.86 trillion yuan. The agricultural industry edged up 4.3 percent to 1.74 trillion yuan.
Industrial output grew 10.5 percent through June, down from 11.6 percent in the first three months, the bureau said.
Fixed-asset investment rose 20.4 percent to 15 trillion yuan in the first half, down 0.5 percentage points from the rate in the first quarter.
Retail sales expanded 14.4 percent to 9.8 trillion yuan in the January-June period, up 0.4 percentage point from the first quarter.
Gross domestic product expanded 7.6 percent from a year earlier in the April-June period, easing further from the 8.1 percent increase in the first three months.
The overall output of the world's second-largest economy grew to 22.7 trillion yuan (US$3.6 trillion) in the first half, up 7.8 percent year on year.
Sheng Laiyun, a spokesman at the bureau, said the slowdown is acceptable given worsening international conditions, and the growth rate is still higher than this year's target of 7.5 percent.
"China's economic performance is stable," Sheng said. "Globally, we have achieved a relatively good result despite of the slowdown."
Among the emerging markets, India reported an economic growth rate of around 5 percent in the second quarter, Brazil delivered a 1.2 percent rise, while South Africa was similarly weak, Sheng said.
Growth in developed countries was worse. The eurozone economy is likely to contract 0.3 percent in the second quarter, and the United States is also growing at a slower pace of around 1.6 percent in the same period.
But some economists feared that China will see a prolonged downturn. The Asian Development Bank yesterday slashed its estimate of China's 2012 growth to 8.2 percent from a previous 8.5 percent projection made in April.
According to the bureau, China's manufacturing sector expanded 8.3 percent on an annual basis to 11.1 trillion yuan in the first half, while the service sector advanced 7.7 percent to 9.86 trillion yuan. The agricultural industry edged up 4.3 percent to 1.74 trillion yuan.
Industrial output grew 10.5 percent through June, down from 11.6 percent in the first three months, the bureau said.
Fixed-asset investment rose 20.4 percent to 15 trillion yuan in the first half, down 0.5 percentage points from the rate in the first quarter.
Retail sales expanded 14.4 percent to 9.8 trillion yuan in the January-June period, up 0.4 percentage point from the first quarter.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
