Stat Wrap (June 08)

Related entries: Economy, General, Investment, News, Trading

The latest stats (with the usual warnings) to come out of China include:

Trade:
AP reports “China’s trade surplus shrank 10 percent in May from a year earlier, the second straight monthly decline…The $20.2 billion surplus for May was still relatively large — up from a $16.7 billion gap in April and $13.4 billion in March — and larger than analysts had predicted…The trade surplus for the first five months of the year was $78 billion, down 8.6 percent from the $85.7 billion surplus in January-May 2007”.

Foreign Direct Investment:
China Daily reports: “China used US$ 42.78 billion of foreign direct investment (FDI) in the first five months this year, an increase of 54.97 percent from the same period last year, the Ministry of Commerce (MOC) said.”

Inflation:
AFP reports: “China’s inflation rate was 7.7 percent in May, easing from April’s 8.5 percent, the government said Thursday, as analysts cautioned that some prices had been kept artificially in check.” Forbes adds: “The World Bank said it expects China’s economic growth to moderate to a more sustainable pace this year, expanding by 9.8 pct and easing further to 9.2 pct in 2009, against the 2007 revised rate of 11.9 pct.”

MarketWatch provides details of the World Bank’s 2008 projections:

GDP: 9.8% (up from 9.6%)

Inflation: 7% (up from 4.6%. 5.3% in 2009)

Updated 20/6/08

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