China GDP Surges – Again
Jim Trippon submits:
China’s economy is at it again. This time it is a stellar first-quarter GDP report that saw China’s economy grow by 11.9%, well ahead of analysts’ expectations of 10.7%. Perhaps even more impressive was the fact that China’s expanded at such a rapid pace in relatively benign inflationary conditions. Inflation for the quarter was just 2.2%, below Beijing’s goal of 3% for the year. The low inflation number may indicate that the efforts Beijing took earlier this year to tighten monetary policy are in fact working.