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(dpa) The Chinese economy was a little slowed in the second quarter with 6.7%. This translates into a total growth of 6.8% for the first half of the year compared to the same period last year, the statistics bureau reported in Beijing on Monday. In the first three months of the year, the second largest economy had already grown by 6.8%.
The Chinese economy is resilient to the threat of escalating trade conflict with the United States, experts say. Despite the uncertainties, the global recovery, the buoyancy of the real estate market and other growth drivers are causing some dynamism. In addition, the contribution of consumption to growth in the first quarter rose from 58% to 77% in the same period of the previous year.
Economic development continues to exceed the goal of the Beijing government of only 6.5 for the whole year% aspires. Experts anticipate a slight slowdown in growth of only 6.6% in the second half.
Chinese companies are optimistic that their production will increase next year, according to a recent IHS Markit financial services survey, but "relatively sober." Concerns over the trade war, rising prices raw materials, higher labor costs, tougher competition and stricter environmental regulations depress the atmosphere.
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