China June Economic Data Preview: Why Can’t China Maintain Double-Digit Growth? [VIDEO]

  @risahope on July 03 2013 2:31 PM
Can China Maintain Double-Digit Growth?
A batch of Chinese economic data due for release over the next two weeks will be closely scrutinized following lower manufacturing PMIs on Monday. China’s Q2 GDP will be released on July 15th. Reuters

A batch of important Chinese economic data is due for release over the next two weeks.

Both of China’s manufacturing PMIs published Monday came in below May levels, pointing to lackluster growth in the second quarter.

China experienced a credit squeeze last month after China’s central bank allowed short-term borrowing costs to spike to close to 30 percent on June 20.

Q2 GDP will be released on July 15th. China’s GDP grew 7.7 percent in the first quarter from a year ago, slower than the 7.9 percent hit in the last three months of 2012.

According to IBT Senior Finance and Economics Reporter Moran Zhang, data from the second quarter will provide further proof that China’s slow down story will likely continue. 

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