Home / Knowledge / News / Textiles / China's economy steadies in May
China's economy steadies in May
14
Jun '16
China's economy held steady, as industrial production gathered pace in May, retail sales maintained strong growth while investment cooled with improved structure, according to data released by National Bureau of Statistics (NBS) on Monday.

On a month-on-month basis, industrial output was up 0.45 per cent in May, according to the NBS data, the official Xinhua news agency reported.

Value-added industrial output, one of the leading indicators for economic growth, rose 6 per cent year on year in May, unchanged from April and in line with expectations.

In the first five months, industrial output grew 5.9 per cent from one year earlier, up from 5.8 percent registered during the January-April period.

An NBS official said the data indicated that China's industrial structure had continued to improve. The output of the hi-tech and equipment manufacturing industries maintained strong growth, rising 11.5 per cent and 8.5 per cent in May.

Retail sales climbed 10 per cent in May from one year earlier, compared with an increase of 10.1 per cent in April.

However, fixed asset investment growth weakened to 9.6 per cent in the January-May period as tepid demand and industrial over capacity continued to weigh on the economy. This compared with a 10.5 per cent increase in the four months through April.

Although investment growth cooled, investment structure improved with more money spent on the hi-tech and service sectors, while less money flowed into industries with high energy consumption or excessive capacity.

China's economy fared at a stable rate amid headwinds from both home and abroad, and it would maintain “stable and relative fast growth,” the official said.

China will continue to push forward supply-side structural reform while expanding aggregate demand, he said.

The country's GDP expanded 6.7 per cent year on year in the first quarter, the slowest growth since the global financial crisis in early 2009 but still in line with the official 2016 target range of between 6.5 per cent and 7 per cent. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Christian Dior

Fashion | On 25th Apr 2017

LVMH to acquire Christian Dior Couture for €6.5bn

LVMH and Christian Dior, which holds directly and indirectly 41 per...

Information Technology | On 25th Apr 2017

Self-repairing fabrics to be the future of fashion

It is the era of smart. Intelligent materials like self-repairing...

Textiles | On 25th Apr 2017

Indonesia revitalising textile sector

With exports of textile and textile products rising in Indonesia, the ...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search