{"id":3510,"date":"2016-09-19T15:19:38","date_gmt":"2016-09-19T14:19:38","guid":{"rendered":"https:\/\/lazardfreresgestion-tribune.com\/?p=3510"},"modified":"2023-02-08T14:42:21","modified_gmt":"2023-02-08T13:42:21","slug":"china-reassuring-growth-data","status":"publish","type":"post","link":"https:\/\/latribune.lazardfreresgestion.fr\/en\/china-reassuring-growth-data\/","title":{"rendered":"China: reassuring growth data"},"content":{"rendered":"

CHART OF THE WEEK<\/strong><\/p>\n

The latest raft of data released on September 13<\/b>th<\/b> by China\u2019s National Bureau of Statistics indicate an upturn in August following a poor July. <\/b>Despite factories in eastern China shutting down ahead of the G20 summit, industrial production actually gathered pace over the month (+6.3% year-on-year compared with +6.0% in July). A rebound in exports was an important driver as were higher levels of vehicle production in response to increased demand, which has also led to higher retail sales volumes (+10.2% vs. 9.8% year-on-year). Investment also recovered at +8.1% year-on-year (compared with +3.9%) driven by both the public sector and higher spending on infrastructure and property.<\/p>\n

\"image1graphesem2\"<\/p>\n

OUR ANALYSIS<\/b><\/p>\n

Over the past two months China\u2019s data have been volatile, possibly due to working-day effects. <\/b>When compared with the same periods in 2015, July 2016 had two fewer working days and August 2016 had two extra. That said, August\u2019s economic recovery also coincides with an expansion in both credit extension and government spending, and at a time when the Chinese government appears to be adopting a more accommodative policy.<\/b> China\u2019s State Council has recently indicated its desire to increase state banks\u2019 roles in financing investment projects and central government has announced national inspections to ensure local governments correctly implement the projects. In the past, such measures have provided a short-term boost to investment but the effect wanes quickly and can aggravate instability in China\u2019s economy.<\/b> Nonetheless, the measures demonstrate the authorities\u2019 determination to reach their 2016 minimum growth target of 6.5%.<\/b><\/p>\n

The opinion expressed above is dated September 16<\/i>th<\/i>, 2016 and is liable to change.<\/i><\/p>\n

This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Fr\u00e8res Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Fr\u00e8res Gestion SAS. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

CHART OF THE WEEK The latest raft of data released on September 13th by China\u2019s National Bureau of Statistics indicate… <\/p>\n","protected":false},"author":101016,"featured_media":3507,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[148],"tags":[],"class_list":["post-3510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chart-of-the-week"],"yoast_head":"\nChina: reassuring growth data – Tribune Lazard Fr\u00e8res Gestion<\/title>\n<meta name=\"description\" content=\"China: reassuring growth data Chart of the week Tribune Lazard Fr\u00e8res Gestion\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/latribune.lazardfreresgestion.fr\/en\/china-reassuring-growth-data\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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