Subscribe free to our newsletters via your
. Space Travel News .




TRADE WARS
China August industrial output up 6.1% year-on-year: govt
By Kelly OLSEN
Beijing (AFP) Sept 13, 2015


Growth in China's industrial production and retail sales accelerated in August, government data showed Sunday, but the figures will do little to ease international concern about the world's second-largest economy.

Industrial production, which measures output at factories, workshops and mines, rose 6.1 percent year-on-year, the National Bureau of Statistics (NBS) announced, describing the sector as still weak.

The figure outpaced July's year-on-year gain of 6.0 percent but was below a median forecast of 6.5 percent in a survey of economists by Bloomberg News.

Retail sales increased 10.8 percent in August from a year earlier, exceeding the previous month's 10.5 percent and also besting the median estimate in the Bloomberg survey of 10.6 percent.

The figures are the latest closely watched snapshot of the Asian giant, a key driver of global economic growth, after a series of disappointing indicators during the current third quarter.

The most recent official and private manufacturing surveys indicate that the sector is contracting.

And inflation data released Thursday showed consumer price rises accelerating but factory gate prices in deflation for the 42nd straight month and falling at the fastest pace in six years.

Reacting to Sunday's data, Jiang Yuan, an NBS statistician, described the industrial situation as still on a "shaky foundation" despite the slight rebound in production last month.

"The market demand at home and abroad for industrial products is still weak now," Jiang said in a statement on the NBS website. "The downward pressure on industrial production is still big."

China's economy expanded 7.3 percent in 2014, its weakest performance in 24 years, and growth has slowed further this year. Gross domestic product (GDP) increased 7.0 percent in each of the first two quarters of this year.

Authorities are officially targeting growth of about 7.0 percent this year, though economists increasingly see that goal as difficult to achieve given recent weakness.

"The economy is showing no sign of recovery," said Ding Shuang, chief China economist at Standard Chartered in Hong Kong, Bloomberg reported.

"From the perspective of monetary policy, the government has done what it can, but demand from the real economy needs to pick up to really make use of that."

Authorities have been aggressively dealing with the slowing economy, cutting interest rates five times since last November as well as reducing bank reserve requirements to spur lending.

But Chinese officials have come under increasing pressure due to concerns about slowing growth, a shock devaluation last month of the yuan currency and questions about their attempts to prop up the country's stock markets.

Premier Li Keqiang on Thursday took advantage of an address at a World Economic Forum meeting in China to try to reassure his audience that officials are in control.

Li stressed that while the country has problems, it poses no risk to the global economy and will not experience a dreaded "hard landing".

But economists generally believe more stimulatory steps are necessary to shore up growth.

The finance ministry on Tuesday said it would adopt "stronger" fiscal policies, including speeding up major construction projects.

Also Sunday the NBS said that fixed-asset investment (FAI), a measure of government spending on infrastructure, expanded 10.9 percent on-year in the January-August period, coming in below the median Bloomberg forecast of a gain of 11.2 percent, and remaining the lowest since 2000.

Jeremy Stevens, Beijing-based Asia economist at South Africa's Standard Bank, said he was particularly concerned about slowing FAI growth.

"The economy is down-drifting and won't change," he told AFP in an email.

China's leaders are trying to pull off a much-touted retooling of the country's economic model to one in which consumer spending rather than investment plays the leading role in driving growth.

But even the retail sales gain is not as robust as it seems, according to Lin Tao, another NBS statistician.

Lin said on the website that stripping out a gain in August in the retail price of commodities means that the real growth rate for the indicator was just 10.4 percent, or roughly the "same level as that of last month", referring to July's 10.5 percent increase.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





TRADE WARS
Americans troubled by China ties, economy tops list: poll
Washington (AFP) Sept 9, 2015
Americans are very worried about ties with China, with economic issues atop the list, including US debt held by Beijing, job losses to the Asian giant and the US trade deficit, a poll showed Wednesday. Half or more of the people questioned for the Pew Research Center survey rated those three areas as very serious problems. "The American public continues to see a number of issues related ... read more


TRADE WARS
US Navy to Launch Folding-Fin Ground Attack Rocket on Scientific Mission

US Launches Atlas V Rocket With Navy Communications Satellite After Delay

FCube facility enters operations with fueling of Soyuz Fregat upper stage

SpaceX delays next launch after blast

TRADE WARS
ASU instruments help scientists probe ancient Mars atmosphere

What Happened to Early Mars' Atmosphere

Opportunity brushes a rock and conducts in-situ studies

Destination Red Planet: Will Billionaires Fund a Private Mars Colony

TRADE WARS
Russia Eyes Moon for Hi-Tech Lunar Base

Russia Gets Ready for New Moon Landing

ASU chosen to lead lunar CubeSat mission

Russia's moon landing plan hindered by financial distress

TRADE WARS
New Horizons Spacecraft begins Intensive Data Downlink Phase

New Horizons Team Selects Potential Kuiper Belt Flyby Target

Scientists study nitrogen provision for Pluto's atmosphere

Flowing nitrogen ice glaciers seen on Pluto

TRADE WARS
Earth observations show how nitrogen may be detected on exoplanets, aiding search for life

Distant planet's interior chemistry may differ from our own

Earth's mineralogy unique in the cosmos

A new model of gas giant planet formation

TRADE WARS
NASA Funds Plasma Rocket Technology for Superfast Space Travel

Green Propellant Infusion Mission Receives Propulsion System

Need for Speed: Star Trek Warp Drive is Within Our Grasp

NASA Considers Using Old Water Tanks in New ISS Storage System

TRADE WARS
Progress for Tiangong 2

China rocket parts hit villager's home: police, media

China's "sky eyes" help protect world heritage Angkor Wat

China's space exploration potential has US chasing its own tail

TRADE WARS
Comet Hitchhiker Would Take Tour of Small Bodies

Dawn Sends Sharper Scenes from Ceres

UA Cameras Give Sight to NASA's OSIRIS-REx Mission

Rosetta hits 'milestone' in comet's run past Sun




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.