Chinese economy slows, but with some positive signs
Beijing
(AsiaNews) - China's gross domestic product (GDP) grew by 7.4% in the third
quarter this year, compared with a year ago. The
growth is less when compared to 7.6 in the second quarter, but there is also
some positive data, such as the growth of industrial output and the acceleration
of investment in fixed capital.
Figures
released by the National Statistics show that on the one hand for the first
time in three years, the target set by the leadership set for 2012of an increase of 7.5 % from 8% has not been
achieved.
For
at least three decades China has had growth rates of over 10%, but the global
crisis - and especially the decrease in exports to Europe and the United States
- has reduced the performance, prompting many economists to suggest China
should increase domestic demand.
Other
data for the month of September, however, shows a recovery, implying that the
country has reached the minimum level from which it can only rise. Last
month, industrial output grew by 9.2% (in August it was 8.9), retail sales grew
by 14.2; inflation is officially at 1.9 while exports grew 9.9 in a year of (in
August it was 2.2).
Several
analysts see this as a stabilization of the economy of the Chinese giant. Others
fear that - since the Office of statistics is controlled by the Party leadership
- the positive figures serve to convey an atmosphere of greater optimism before
the Communist Party Congress scheduled for November 8.
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