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China's GDP exceeds market expectations growing by 9.5%
Submitted by VomiBiataZoog <abibautai@etherealplunderer.com> on 16/Jul/2011 in reply to X Files, The posted by X Files, The on 11/Mar/2011
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The latest quarterly data report from the National Bureau of Statistics showed China's gross domestic product rising 9.5% y/y during the second quarter -- a touch above market expectations of 9.4% -- while the key industrial output growth indicator surged 15.1% y/y in June, far outpacing both May's 13.3% reading and the market's expectation of a 13.1% rise.
The second quarter data report followed Saturday's announcement that consumer inflation rose 6.4% y/y in June, the highest level in three years and a harbinger of yet another move on interest rates this year, some analysts believe.
"Inflation is still the most important concern, and there will be at least one more interest rate by the end of this year, with one as soon as August," said Mizuho Securities economist Shen Jianguang, reports http://www.IMarketnews.com
China**teelmakers produce half the world's steel and the government has long been pushing industry leaders to consolidate and add value to an energy-sapping sector where unbridled production has often resulted in turf battles and volatile prices.
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