China shows signs economic recovery taking shape
Associated Press
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Updated 8:28 p.m., Wednesday, October 17, 2012
BEIJING (AP) — China's economic growth tumbled to the lowest in more than three years in the latest quarter but retail sales and other activity accelerated in a sign a recovery from the painful downturn is taking shape. In a sign of an emerging recovery, economic activity in the latest quarter was up by 2.2 percent from the previous three month period, the biggest quarter-on-quarter gain in a year, said Dariusz Kowalczyk, senior economist for Credit Agricole CIB in Hong Kong. [...] authorities have avoided launching a massive stimulus after huge spending in response to the 2008 global crisis fueled inflation and a wasteful building boom. A rebound in Chinese growth would be good news for economies such as Australia, Brazil and African countries that supply its factories with iron ore and other commodities. China's expansion is strong compared with the United States and Japan, where this year's growth is forecast in low single digits, but the slowdown has been painful for companies that depend on high growth to drive demand for new factories and other goods. Reported by SeattlePI.com 10 minutes ago.
Associated Press
Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 8:28 p.m., Wednesday, October 17, 2012
BEIJING (AP) — China's economic growth tumbled to the lowest in more than three years in the latest quarter but retail sales and other activity accelerated in a sign a recovery from the painful downturn is taking shape. In a sign of an emerging recovery, economic activity in the latest quarter was up by 2.2 percent from the previous three month period, the biggest quarter-on-quarter gain in a year, said Dariusz Kowalczyk, senior economist for Credit Agricole CIB in Hong Kong. [...] authorities have avoided launching a massive stimulus after huge spending in response to the 2008 global crisis fueled inflation and a wasteful building boom. A rebound in Chinese growth would be good news for economies such as Australia, Brazil and African countries that supply its factories with iron ore and other commodities. China's expansion is strong compared with the United States and Japan, where this year's growth is forecast in low single digits, but the slowdown has been painful for companies that depend on high growth to drive demand for new factories and other goods. Reported by SeattlePI.com 10 minutes ago.