CHINA’S ECONOMY GROWS 8.9%, FASTEST PACE IN A YEAR
Bloomberg, October 22, 2009
China’s economy expanded at the fastest pace in a year as stimulus spending and record lending growth helped the nation lead the world out of recession.
Gross domestic product rose 8.9 percent in the third quarter from a year earlier, the statistics bureau said in Beijing today. The median of 34 estimates in a Bloomberg News survey was for a 9 percent gain. Separate reports showed industrial production and retail sales accelerated in September.
The dollar headed higher and Asian stocks dropped on concern that the acceleration in China’s growth will spur policy makers to consider withdrawing record fiscal and monetary stimulus in coming quarters. Qin Xiao, chairman of China Merchants Bank Co., this week said it’s “urgent” for the central bank to tighten policy to avert asset-price bubbles.
“It’s all a question now of making sure they don’t overdo the stimulus,” said Stephen Green, head of China research at Standard Chartered Plc. “The probability of stronger guidance to banks on lending growth is rising.”
The MSCI Asia Pacific stock index slid 0.5 percent to 120.56 as of 12:30 p.m. in Hong Kong. China’s benchmark Shanghai Composite Index was little changed after losing as much as 0.8 percent earlier today. The dollar benefited from its status as a haven, advancing 0.2 percent to 91.17 yen and $1.4986 per euro. The yuan was little changed, trading at 6.8270.
(...) [artículo aquí]
Bloomberg, October 22, 2009
China’s economy expanded at the fastest pace in a year as stimulus spending and record lending growth helped the nation lead the world out of recession.
Gross domestic product rose 8.9 percent in the third quarter from a year earlier, the statistics bureau said in Beijing today. The median of 34 estimates in a Bloomberg News survey was for a 9 percent gain. Separate reports showed industrial production and retail sales accelerated in September.
The dollar headed higher and Asian stocks dropped on concern that the acceleration in China’s growth will spur policy makers to consider withdrawing record fiscal and monetary stimulus in coming quarters. Qin Xiao, chairman of China Merchants Bank Co., this week said it’s “urgent” for the central bank to tighten policy to avert asset-price bubbles.
“It’s all a question now of making sure they don’t overdo the stimulus,” said Stephen Green, head of China research at Standard Chartered Plc. “The probability of stronger guidance to banks on lending growth is rising.”
The MSCI Asia Pacific stock index slid 0.5 percent to 120.56 as of 12:30 p.m. in Hong Kong. China’s benchmark Shanghai Composite Index was little changed after losing as much as 0.8 percent earlier today. The dollar benefited from its status as a haven, advancing 0.2 percent to 91.17 yen and $1.4986 per euro. The yuan was little changed, trading at 6.8270.
(...) [artículo aquí]
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