Forecasts
Forex Guides
Members

China Growth Loses Momentum in Blow to Global Expansion: Economy




China ’s economic growth unexpectedly lost momentum in the first quarter as gains in factory output and consumption weakened, driving stocks and commodities lower on concern global expansion will slow.

Gross domestic product rose 7.7 percent from a year earlier, the National Bureau of Statistics said in Beijing today. That compares with the 8 percent median forecast in a Bloomberg News survey of 41 analysts and 7.9 percent in the fourth quarter. March industrial production increased less than estimated while retail-sales growth matched forecasts. Today’s data add to concerns the global recovery is struggling, with the International Monetary Fund set to lower its forecast for U.S. growth and investor George Soros warning that Germany will probably be in recession by the end of September. Moderating inflation may give new Premier Li Keqiang more room to boost domestic demand as the euro-area debt crisis clouds the outlook for exports. “The disappointing data show the recovery is much weaker and bumpier than expected, dragged down by soft domestic demand,” said Zhu Haibin , chief China economist at JPMorgan Chase & Co. in Hong Kong. The expansion in credit so far this year may help growth pick up in the second quarter, and authorities may ease efforts to rein in so-called shadow banking while boosting spending in areas including health care and environmental protection, Zhu said. JPMorgan today cut its 2013 growth forecast to 7.8 percent from 8.2 percent, while Royal Bank of Scotland Group Plc lowered its estimate to 7.8 percent from 8.4 percent. Stocks Decline The MSCI Asia Pacific Index of stocks dropped 0.8 percent at 4:06 p.m. in Tokyo , poised for the first decline in six days. China’s benchmark Shanghai Composite Index (SHCOMP) fell 1.1 percent at the close, the most this month. The S&P/GSCI Index of 24 […]

Invest In Yourself And Get Premium Analysis
Less than 20 cents a day
Major Currency Pairs Analysis
Forex Sentiment Analysis
Understand The Market
10 days money back guarantee

View Subscription Options

Would you like to connect?
Get notifications on new forecasts and articles.

Sign up to our emailing list and get your FREE Stop Losing and Start Winning in Forex Checklist!

Trending Forex Articles

  • EUR/USD Gold CorrelationChina Growth Loses Momentum in Blow to Global Expansion: Economy
  • China Growth Loses Momentum in Blow to Global Expansion: Economy
  • China Growth Loses Momentum in Blow to Global Expansion: Economy
  • China Growth Loses Momentum in Blow to Global Expansion: Economy
  • China Growth Loses Momentum in Blow to Global Expansion: Economy
  • China Growth Loses Momentum in Blow to Global Expansion: Economy
TheGeekKnows