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China Gets Growth Help From Domestic Demand

Wall Street Journal - Oct 18, 2011

Chinese economic data released Tuesday suggest a nation that has long relied on exports is getting more help from domestic demand—a potential positive for the global economy as Europe grapples with its debt crisis and U.S. growth sputters.

Chinese data Tuesday, which showed third-quarter gross domestic product up 9.1% from a year earlier after 9.5% growth in the second quarter, came in slightly below analyst expectations of 9.2% growth and raised some concern in markets. Still, the growth rate was generally welcomed by economists who saw it as evidence that China can guide its economy to a soft landing as it tries to quell inflation without seriously hurting growth.

It also offered a sign that China's domestic demand is partially making up for softening appetite for China's exports. That could leave China in a better position to weather moderate drops in exports, which have hit its economy hard in the past. It could also mean that China will remain a crucial support for global growth, as its rising consumption feeds demand for raw materials and other goods from around the world.

Read Full Article from Wall Street Journal

- Posted: 2011-10-18 14:25:48

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