Friday, April 15, 2016

Chinese Economic Slowdown Halted?

China's economic growth slowed in the first quarter to 6.7 percent, largely in line with expectations, but its slowest pace since the global financial crisis.

The report showed that the annualized growth rate for the world's second-largest economy ticked lower from the previous quarter's 6.8 percent.

But carefully targeted stimulus helped to prevent it from slowing even further, analysts said, raising hopes that growth may be stabilizing.

The Chinese economy is undergoing a prolonged slowdown as the country's communist leaders steer it away from a growth model based on export manufacturing and investment toward one focused on more sustainable services and private consumption.

The latest numbers matched most economists' expectations and suggest the economy is on track to meet the official full-year growth target of 6.5 to 7 percent. It was the slowest since the first quarter of 2009, when growth sank to 6.2 percent during the worst of the global crisis.

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