China's economy grows better-than-expected 7.9% on year in second quarter

Discussion in 'Economics' started by ASusilovic, Jul 15, 2009.

  1. HONG KONG (MarketWatch) -- China's gross domestic product expanded by 7.9% in the three months ended June 30 from the year-ago period, driven by domestic consumption and a strong increase in industrial activity, Chinese government data showed Thursday.

    The growth rate was higher than the 7.7% expansion anticipated by economists polled by Dow Jones Newswires and marked a sharp acceleration from the 6.1% growth recorded in the first quarter.

    The expansion came in spite of a decline in Chinese consumer and wholesale prices in June.

    Official data showed the mainland's consumer price index fell 1.7% in June from the year-earlier period, while the monthly producer price index shrank 7.8%. In May, China's CPI fell 1.4% while the PPI declined 7.2%.

    http://www.marketwatch.com/story/chinas-economic-growth-rate-rises-to-79

    Motor of the world´s economy...
     
  2. Another example of effective tax policy producing tangable results. Interesting that China has no Capital Gains tax.