Economy

China's GDP growth beats expectations

China's GDP growth beats expectations

During the second quarter of 2017, the Chinese economy grew by 6.9% year-on-year to about 38.2trn yuan (£4.3trn, $5.6trn), beating analysts' prediction by 0.1%. The string of growth will set the groundwork for the government to tackle economic challenges ahead of the re-selection of China's Central Committee later this year.

The Chinese economy is on target to achieve annual growth for the first time since 2010, with figures showing that GDP grew by 6.9 per cent in the first half of 2017.

China reported second quarter growth data Monday that topped expectations.

Part of China's economic health in the second quarter reflected robust exports, with demand beginning to recover in Europe and particularly the U.S. after a long period of depressed growth. The National Bureau of Statistics will now including contributions from healthcare, tourism and the "new economy".

London Gatwick airport runway briefly closed after Air Canada plane's tyre burst
Flights are now using Gatwick's back-up runway and the airport has warned of delays and some cancellations. Passengers are advised to speak to their airline for the latest flight information".

Economist Zhou Hao thinks so too saying that even though the country was better than expected in the first half of the year, a slowdown was likely to happen.

Total social financing plus bonds, the broadest measure of credit, expanded 14.7 percent in June compared with the same month a year earlier.

Factory output was 7.6% higher compared to a year earlier in June, while fixed-asset investments were up 8.6% in the first six months of the year. Trade data released earlier showed export growth accelerated in May and June.

The services sector led the growth with an increase of 7.7 percent, while the manufacturing and the agriculture added 6.4 percent and 3.5 percent separately.

Milan maintain Morata interest
The Premier League pulled out of the race to sign Romelu Lukaku instead, with Chelsea then emerging as a potential candidate. Ander Herrera claims he wanted Manchester United to sign Alvaro Morata from Real Madrid this summer.

"If global demand for Chinese goods stays elevated, that will offset the curbs on growth that property and debt that the government has implemented", said Tao Wang, chief China economist at UBS.

"Overall, China's Q2 economic performance provides a favorable backdrop for the authorities to push forward with their structural reforms, including those highlighted at the National Financial Work Conference held over the weekend", ANZ Bank economists said in a note.

New construction starts measured by floor area, a telling indicator of developer confidence, rose 14.0 percent in June, the highest since October 2016, according to Reuters calculations.

Divorce and losing a parent 'raise the risk of dementia'
The study did not look at the risk of dementia and experts said there could be many different factors at play. The subjects' average age was 58 and included 1,232 white Americans and 82 African Americans.


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