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

Tajik textile-apparel exports rise 30% in Jan-Aug 2018

Textiles | On 16th Oct 2018

Tajik textile-apparel exports rise 30% in Jan-Aug 2018

Tajikistan’s production of textile and apparel rose by 30 per cent in ...

Courtesy: Good On You

Apparel/Garments | On 16th Oct 2018

Good On You aims to give consumers access to brand info

Australia based Good On You, an app that provides ratings of over...

Courtesy: Rieter

Textiles | On 16th Oct 2018

Rieter launches new ring and compact spinning machines

Rieter has launched G 37 and G 38, the new ring spinning machines,...

Interviews View All

Sanjay Yagnik, Maa Tex Speciality

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Janak Dhamanwala & Sunil Dhamanwala, Jansun

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Top executives, Textile industry

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

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

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

Leave your Comments


October 2018

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

news category


Related Categories:

Advanced Search