China’s Economy Accelerates as Retail, Investment Pick Up

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China’s economy accelerated for a second-straight quarter as investment picked up, retail sales rebounded and factory output strengthened amid robust credit growth and further strength in property markets.

Gross domestic product increased 6.9 percent in the first quarter from a year earlier, compared with a 6.8 percent median estimate in a Bloomberg survey. It was the first back-to-back acceleration in seven years.

Other indicators released Monday by the National Bureau of Statistics showed:

  • Fixed-asset investment excluding rural areas expanded 9.2 percent for the first three months, accelerating from 8.1 percent growth last year
  • Retail sales increased 10.9 percent from a year earlier in March, compared with a median estimate of 9.7 percent in a Bloomberg survey
  • Industrial output rose 7.6 percent last month from a year earlier, compared with an estimated 6.3 percent rise

“For the first time in the recent years, China starts a year with a strong headline GDP,” said Raymond Yeung, chief greater China economist at Australia & New Zealand Banking Group Ltd. in Hong Kong, who correctly forecast the growth pace. “Thanks to strong investment and property, the economy is performing well.” …

Read more : Bloomberg, 17.04.2017