China's economic growth slowest since 2009

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China has recorded its slowest economic growth since 2009, up 6.7% in the first quarter of the year, the nation’s government said.

The data from the National Bureau of Statistics of China showed the figure had eased from 6.8% in the final quarter of last year.

The latest 6.7% growth had taken the country’s GDP to 15.9 trillion yuan (£1.73 trillion).

It is in line with the growth targets of the world’s second largest economy.

Areas of growth noted included a rise in residents’ income and increased investments in property. 

Consumers also appear to be buying, with retail sales showing a 10.5% rise for March.

“The overall performance of national economy continued to be stable and move in a positive direction, with structural adjustment deepened, new impetus accumulated and positive changes showed on major indicators. The national economy enjoyed a good start,” the government said. 

Source Article from http://www.standard.co.uk/business/chinas-economic-growth-slowest-since-2009-a3226056.html

April 15, 2016 |
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