Stat Wrap (August 2008)

Related entries: Economy, General, News, Trading

Another month, another set of stats:

• Inflation: “China’s politically sensitive consumer inflation eased in August to a 14-month low…Consumer prices rose 4.9 percent in August over the same month last year, the National Bureau of Statistics said. That was down from July’s 6.3 percent and well below February’s 8.7 percent rate — the peak of an inflation surge that began in mid-2007”. (AP)

• Trade Surplus: “China’s yawning trade surplus widened to a monthly record of $28.7 billion in August…China’s global trade surplus…grew 14.2 percent in August from a year ago, topping the previous monthly high of $27 billion set in October 2007…Exports jumped 21.1 percent to $134.9 billion, while imports were also up strongly, climbing 23.1 percent to $106.18 billion”. (AP)

• GDP: “…Merrill said upcoming third-quarter GDP data will likely show the mainland’s economy expanded 9.2% as consumer spending accelerated during the sporting festival, helping offset the industrial slowdown. China’s economy is forecast by Merrill to expand 10% for the full year.” (MarketWatch)

• FDI: “Actualized foreign direct investment (FDI) in China between January and August this year amounted to $67.73 billion, representing year-on-year growth of 41.60 percent, according to statistics released by the Ministry of Commerce (MOFCOM) on Sept. 10…In August alone, China’s actualized FDI hit $7.01 billion, up 20.38 percent year-on-year.” (Interfax)

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