Index sees slight rise in H2 for economy
By Ye Zhen |
August 24, 2012, Friday
|
Print Edition
Print Edition
AN increase in government loans has lifted a leading index measuring China's economy higher in July, indicating the world's second-largest economy may rebound modestly in the second half of this year.
The Conference Board Leading Economic Index for China rose 0.7 percent in July to 236.4, the New York-based Conference Board said in a statement yesterday. The index was flat in June and gained 1.1 percent in May, the statement said.
Government loans to banks to help boost infrastructure investment propelled the index's growth, the board said.
The Conference Board Coincident Economic Index for China, a gauge of current economic activity, rose 0.8 percent in July to 222.5 - a sign the economy is stabilizing.
"Although other leading indicators, such as real estate, exports and consumer sentiment, remained weak through July, the leading and current indicators point to a modest rebound in the second half of 2012," said Andrew Polk, resident economist at the Conference Board China Center in Beijing.
Local governments have unveiled investment plans recently to shore up the sluggish national economy.
Tianjin on Tuesday unveiled a four-year target of 1.5 trillion yuan (US$236 billion) for industrial investment, following a similar move by Chongqing.
The Conference Board Leading Economic Index for China rose 0.7 percent in July to 236.4, the New York-based Conference Board said in a statement yesterday. The index was flat in June and gained 1.1 percent in May, the statement said.
Government loans to banks to help boost infrastructure investment propelled the index's growth, the board said.
The Conference Board Coincident Economic Index for China, a gauge of current economic activity, rose 0.8 percent in July to 222.5 - a sign the economy is stabilizing.
"Although other leading indicators, such as real estate, exports and consumer sentiment, remained weak through July, the leading and current indicators point to a modest rebound in the second half of 2012," said Andrew Polk, resident economist at the Conference Board China Center in Beijing.
Local governments have unveiled investment plans recently to shore up the sluggish national economy.
Tianjin on Tuesday unveiled a four-year target of 1.5 trillion yuan (US$236 billion) for industrial investment, following a similar move by Chongqing.
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