. Earth Science News .
POLITICAL ECONOMY
China economy eases in April, sparking worries on rebound
by Staff Writers
Shanghai (AFP) May 14, 2016


China's key economic indicators moderated in April from the previous month, official figures showed on Saturday, raising worries over the strength of a rebound in the world's second-largest economy.

Industrial output rose 6.0 percent year-on-year in April, the National Bureau of Statistics said, down from a 6.8 percent jump in March. Economists had estimated a 6.5 percent increase, according to Bloomberg News.

"Industrial production was lower than expectations, indicating that the stabilisation momentum for the economy is not as strong as we imagined," Liao Qun, China economist at Citic Bank International in Hong Kong, told AFP.

"There was a strong economic rebound in March, so there was a bit of a correction in April," he said.

The Chinese economy grew at its slowest quarterly pace in seven years in the first three months of the year, expanding 6.7 percent, though the figure met market expectations and raised hopes it had started to improve.

Policymakers are seeking to wean China away from cheap exports and government-led investment to rely on domestic consumers as the key driver for growth in the world's most populous country.

Separately, retail sales -- an indicator of domestic consumption -- rose 10.1 percent on the year in April, the bureau said, weaker than the 10.5 percent gain in March.

Fixed-asset investment, a gauge of government spending, rose 10.5 percent in the January-April period, it said. That was slower than the 10.7 percent rise in the first three months of the year.

Chinese officials say they are willing to accept slower growth to carry out structural reforms to retool the economy.

The People's Daily newspaper, considered to be the mouthpiece of the ruling Communist Party, on Monday quoted a source as sounding a warning over using credit to drive growth.

China was likely to have an "L-shaped" growth pattern, suggesting it will remain flat, the "authoritative person" said.

The Asian giant's economy grew 6.9 percent for all of last year, its weakest in a quarter of a century. Premier Li Keqiang in March set a growth target in a range of 6.5-7.0 percent for 2016.

The government has cut interest rates six times since late 2014 and also lowered reserve requirements -- the proportion of funds banks must put aside -- to boost the economy.

The central bank said on Saturday it would continue to support "stable" economic growth, according to a statement, a day after figures showed bank lending fell sharply in April, as the government refrained from boosting credit amid concerns over growing financial risk.

Other economic figures for April which have already been released show a mixed picture. Manufacturing activity slowed for the month and both exports and imports dropped, indications of weakness in the economy.

Consumer price inflation was stable at 2.3 percent in April but the producer price index -- which measures prices of goods at the factory gate -- fell 3.4 percent, actually its slowest decline in 16 months.


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
The Economy






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

Previous Report
POLITICAL ECONOMY
China producer price falls slow in April: govt
Beijing (AFP) May 10, 2016
Chinese producer prices declined at their slowest rate in 16 months in April, official data showed Tuesday, a positive sign for the world's second-largest economy. The producer price index (PPI), which measures prices of goods at the factory gate and is a leading indicator of consumer inflation, fell by 3.4 percent from a year ago, the National Bureau of Statistics (NBS) said in a statement. ... read more


POLITICAL ECONOMY
Tensions simmer at Canada fire evacuee centers

Haiti preparing for major earthquake, tsunami

China landslide death toll rises to 31

Kenya demolishes 78 risky buildings after deadly collapse

POLITICAL ECONOMY
Dartmouth announces new way to explore mathematical universe

Scientists take a major leap toward a 'perfect' quantum metamaterial

Design tool enables novices to create bendable input devices for computers

Molybdenum disulfide holds promise for light absorption

POLITICAL ECONOMY
Effect of ocean acidification on shellfish depends on other stressors

Chile fishing crisis traps tourists, empties markets

How much does groundwater contribute to sea level rise?

Continental drift to thank for coral reef biodiversity

POLITICAL ECONOMY
The genetic history of Ice Age Europe

Influence of sea-ice loss on Arctic warming shaped by Pacific temps

Study finds ice isn't being lost from Greenland's interior

What lies beneath West Antarctica

POLITICAL ECONOMY
Study reveals genetic origins of carrots' orange color

Rising Carbon Dioxide Levels Will Help and Hurt Crops

Edible silk coating keeps fruit fresh for a week, scientists find

EU won't sacrifice food safety for US trade deal: German minister

POLITICAL ECONOMY
Over a dozen people killed in Uganda landslides

Landslides kill nearly 50 in Rwanda

World's shallowest slow-motion earthquakes detected offshore of NZ

Floods following drought worsen Ethiopian hunger

POLITICAL ECONOMY
Senegal's child beggars show limits of 'apptivism'

S.Africa may re-consider regulated rhino horn trade in future

Climate-exodus expected in the Middle East and North Africa

Severe drought forces Zimbabwe to sell off wildlife

POLITICAL ECONOMY
Drawing the genetic history of Ice Age Eurasian populations

Hominins may have been food for carnivores 500,000 years ago

Neandertals and Upper Paleolithic Homo sapiens had different dietary strategies

Chimp study explores the early origins of human hand dexterity









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - 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. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. 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. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.