CSSN-Economic growth in Q2 to be higher than expected

Economic growth in Q2 to be higher than expected

Author : Source : Chinese Social Sciences Today 2016-07-12

According to forecasts, China’s economy will grow by an estimated 6.7 percent in the second quarter of 2016, and growth is expected to average 6.6 percent for the whole year, exceeding the benchmark of 6.5 percent, according to the report on macroeconomic indicators in the second quarter released on June 28 by National Academy of Economic Strategy, the Chinese Academy of Social Sciences (CASS). According to the report, consumption steadily increased while total investment fell slightly and total industrial added value slightly increased. Growth in the financial service industry slowed, while real estate industries grew at a higher rate than in the previous year. The report suggests a balance between the supply-side reform and maintenance of economic stability in the second half of 2016.

Editor: Yu Hui