Market Updates
China's Growth Slows to 7.5%, Industrial Production Slowest Since 2009
Devan Biswas
15 Jul, 2013
New York City
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Economic growth in the second quarter to June slowed to 7.5% after government cracked down on construction activities and also exports slowed. Industrial production slowed to 8.9%, slowest since 2009.
Economy in the second quarter to June expanded at 7.5% after growing at 7.7% in March quarter, National Bureau of Statistics said today.
Industrial production increased 8.9% in June from a year ago and the increase was the slowest since 2009.
Retail sales in June increased 13.3% from a year ago after rising at 12.9% in May. Fixed asset investments excluding rural households surged 20.1% in the six months to June from a year ago.
China has been engineering soft landing and slowing economic growth momentum by restricting lending and curbing excessive residential construction.
China is expected to slow growth to 7% next year and the economy is expected to grow at 7.4% in the current year.
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