China's GDP Grows 7.1% in First Half
China's gross domestic product grew by 7.1 percent in the first half of 2009, putting it back on track to achieve the government's goal of 8 percent growth for 2009.
The economy registered GDP growth of 7.9 percent in the second quarter, up from 6.1 percent in the first quarter, according to data released yesterday by the National Bureau or Statistics.
The Consumer Price Index declined 1.7 percent in June compared with the same month a year earlier, a further decline from May's drop of 1.4 percent.
Factory output grew 9.1 percent in the second quarter, up from 5.1 percent in the first quarter. In June, industrial added values grew by 10.7 percent compared with the same month a year earlier.
Investments in urban fixed assets increased 33.5 percent to 9.1321 trillion yuan in the first half compared with last year's figures.
Total sales of consumer goods in the first half of 2009 grew by 16.6 percent to 5.8711 trillion yuan after adjustment.
M2, the broadest measure of?money supply, amounted to 56.9 trillion yuan at the end of July, up 28.5 percent year on year.
Links and Sources
National Bureau of Statistics: China's Economy Stabilized with a Better Performance Trend While Its Upturn Yet to Consolidate
Economist: Is China's economic stimulus too much of a good thing? (image)
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