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Renminbi Series: China’s economic recovery gathers pace

China’s economy is humming strongly and the signs of a recovery are becoming more broad-based. According to latest data from the National Bureau of Statistics (NBS), China’s GDP grew by 6.9 percent in the second quarter, same as the first three months of the year. It is important to notice that China’s growth rate was above the 6.5 percent target of the communist government. Strong humming in the real estate sector helped China to achieve this above-targeted growth. Recovery was visible from data across the board.

  • Industrial production grew by 7.6 percent from a year ago, which is the highest pace since December 2014.
  • Retail sales grew by 11 percent in June from a year ago, which is the highest pace of growth since December 2015.
  • Urban investments were strong at a growth rate of 8.6 percent y/y.

Chinese yuan has reversed its declining course in recent months and has strengthened from 6.97 per dollar in December last year to 6.76 per dollar as of today. We at FxWirePro expect the yuan to strengthen to as 6.69 per dollar over the year and it might strengthen to as high as 6.5 per dollar.

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February 20 09:00 UTC Released

GRCbank C/A YY

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-1.241 0

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-0.954 0

February 20 09:00 UTC Released

PLRetail Sales YY

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8.2 0

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7.3 0

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6 0

January 31 00:00 UTC 2939229392m

ARAnnual Primary Balance*

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2016 bln ARS

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 4121241212m

ARTrade Balance

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-1541 %

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ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 4121241212m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 2939229392m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 2939229392m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 2939229392m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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