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China's economic growth driven by consumption

China's economic growth, driven by consumption, is in a transition stage from the heavy industries, such as manufacturing, for the third quarter, amid the income growth weakening further.

China's disposable income to 17,735 yuan

The per capita disposable income appreciated, for January to September, on a year-on-year basis, 6.3%, to 17,735 yuan, and was lower compared to the 6.5% reading in the first half of the year.

According to one of the NBS official's statement, maintaining the growth on a per capita income is difficult. Attention must be given to the migrant workers, and to those who could lose their jobs due to excess capacity.

Furthermore, the momentum of future growth resumes weak as the income of the migrant workers climbed only 5.9%.

Today, the Chinese nation reported an expansion of 6.7% in Q3, with 70% of such rise arriving from consumption.

Moreover, the wholesale and retail sectors' growth escalated, for July to September, from 6.5% to 7.0%, and the property and the real estate sectors rose 8.8% respectively.

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Thursday, 20 Oct, 2016 / 8:27

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Source : https://www.argusfx.com/en/research-education/market-analysis/news/china-s-economic-growth-driven-by-consumption

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