FOREX TradingCharts.com

Financial News: China GDP Growth Tops Expectations In 2017

China GDP Growth Tops Expectations In 2017

01/18/2018 - 05:06:00 (RTTNews)

(RTTNews) - China's economic expansion exceeded the government's full year target in 2017 as growth accelerated for the first time in seven years.

In 2017, gross domestic product expanded 6.9 percent, the National Bureau of Statistics reported Thursday. This was bigger than the government's target of about 6.5 percent and the 6.7 percent growth posted in 2016, which was the weakest in 26 years.

Premier Li Keqiang said last week that the economy would have expanded around 6.9 percent in 2017 and the economic situation is "better than expected".

In the fourth quarter, year-on-year GDP growth held steady at 6.8 percent, while the rate was forecast to slow to 6.7 percent.

Another report from the NBS showed that industrial production advanced 6.2 percent annually in December, slightly faster than the 6.1 percent increase seen in November. Economists had forecast another 6.1 percent increase.

Meanwhile, retail sales growth eased to 9.4 percent in December from 10.2 percent in November. Sales were forecast to climb again by 10.2 percent.

For the whole year of 2017, industrial production advanced 6.6 percent, as expected. At the same time, retail sales logged an annual growth of 10.2 percent.

Fixed asset investment increased at a slower pace of 7.2 percent in 2017.

Looking ahead, Julian Evans-Pritchard, an economist at Capital Economics, said tight monetary conditions and slowing credit growth will continue to weigh on the pace of economic expansion in coming quarters.

Indeed, the economist expects growth to average a mere 4.5 percent this year, though investors will probably need to look beyond the official GDP figures for evidence of this.

The World Bank forecast China's growth to edge down in 2018 to 6.4 percent as policies tighten, and average 6.3 percent in 2019-20.

House price data released earlier in the day showed that house prices in majority of the Chinese cities increased in December. On a monthly basis, house prices climbed in 57 out of 70 cities surveyed by the government.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Portugal Inflation Slows For Second Month (03 hr(s), 08 min(s), 54 sec(s) ago)
(RTTNews) - Portugal's consumer price inflation eased for the second straight month in January ...Full Story»

Latvia Inflation At 14-Month Low (03 hr(s), 20 min(s), 54 sec(s) ago)
(RTTNews) - Latvia's consumer price inflation eased for the fifth successive month in January ...Full Story»

OECD Unemployment Rate Falls In December (03 hr(s), 21 min(s), 54 sec(s) ago)
(RTTNews) - The unemployment rate in the Organization for Economic Cooperation and Development are ...Full Story»

China's Bank Lending At Record High (03 hr(s), 50 min(s), 54 sec(s) ago)
(RTTNews) - China's banks lent a record amount of new yuan loans in January, data from the Peo ...Full Story»

UK January Household Spending Fall First In 5 Years: Visa Survey (05 hr(s), 25 min(s), 54 sec(s) ago)
(RTTNews) - UK household spending declined at the start of the year, which was the first January d ...Full Story»

Swiss Inflation Slows In January (06 hr(s), 12 min(s), 54 sec(s) ago)
(RTTNews) - Switzerland's consumer price inflation slowed in January, data from the Federal St ...Full Story»

Singapore Visitor Arrivals, Tourism Receipts Hit Record Highs In 2017 (06 hr(s), 23 min(s), 54 sec(s) ago)
(RTTNews) - Singapore's both tourism receipts and visitor arrivals attained record highs for t ...Full Story»

Romania Industrial Production Grows Sharply In December (07 hr(s), 12 min(s), 54 sec(s) ago)
(RTTNews) - Romania's industrial production expanded markedly at the end of the year, mainly d ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Portugal Inflation Slows For Second Month

02/12/2018 - 06:39 AM (RTTNews)
(RTTNews) - Portugal's consumer price inflation eased for the second straight month in January ...Full Story>>

Latvia Inflation At 14-Month Low

02/12/2018 - 06:27 AM (RTTNews)
(RTTNews) - Latvia's consumer price inflation eased for the fifth successive month in January ...Full Story>>

OECD Unemployment Rate Falls In December

02/12/2018 - 06:26 AM (RTTNews)
(RTTNews) - The unemployment rate in the Organization for Economic Cooperation and Development are ...Full Story>>

China's Bank Lending At Record High

02/12/2018 - 05:57 AM (RTTNews)
(RTTNews) - China's banks lent a record amount of new yuan loans in January, data from the Peo ...Full Story>>

UK January Household Spending Fall First In 5 Years: Visa Survey

02/12/2018 - 04:22 AM (RTTNews)
(RTTNews) - UK household spending declined at the start of the year, which was the first January d ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.