Stat Wrap (June 2008)

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This month’s stat wrap core comes courtesy of Caijing Magazine, which informs us in its newsletter that:

    • “China”s gross domestic product (GDP) grew 10.4 percent to top 13 trillion yuan during the first half of the year (according to National Bureau of Statistics)…was down 1.8 percentage points from the same period last year.

    • “The consumer price index (CPI) grew 7.9 percent in the first half of 2008, 4.7 percentage points higher than the rate posted for the same period last year…But the June CPI of 7.1 percent was 0.2 percent below the May rate. And most economists think CPI will continue falling in the second half when compared with the high figures posted late last year. However, the producer price index (PPI) deviated from the CPI trend by rising to 8.8 percent in June, representing higher costs for oil and other production inputs.”

    • Growth in fixed asset investment remained robust, reaching 6.84 trillion yuan in the first half of the year, up 26.3 percent year-on-year. Urban fixed asset investment grew 26.8 percent to 5.84 trillion yuan.

    • “Inflation pressure remains high and poses a major challenge for the country, NBS said”.

In other statistical news:

    Business week reports on China’s (finally) shrinking trade surplus:

    “China’s global trade surplus in June was $21.3 billion, the biggest monthly gap since December, but a 20 percent decline from the same month last year, according to the China’s General Administration of Customs.

    Exports rose by 18.2 percent over the year-earlier period to $121.5 billion — a sharp drop from May’s 28 percent growth rate, the data showed. Imports surged 23.7 percent to $100.1 billion.

    … “This is crunch time for China,” said Standard Chartered economist Stephen Green. “Beijing is more than a little concerned about the impact of a slowing global economy.””

MarketWatch reports that FDI into China remains strong:

    “Foreign direct investment in China jumped 46% in the first half, according to government data released Friday. Overseas firms brought in $52.4 billion in investment during the six-month period, the Ministry of Commerce said Friday. Foreign direct investment in China was up 14% in 2007 against the preceding year.”

How much of this FDI is really foreign (rather than round-tripped), and how much is “hot” money seeking an uplift from the RMB’s rise is unclear from the official figures.

News Sources:

2 Responses to “Stat Wrap (June 2008)”

  1. cyruswen Says:

    Thanks these stats help a lot. Can you add a email subscription for your blog posts?

    It would definitely help you increase your viewers base.

    Cheers

  2. Administrator Says:

    Thanks, you can subscribe to email updates here: http://www.feedblitz.com/f/?Sub=22415.

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