Chinese Gross Domestic Product Data Due Today
The expected Gross Domestic Product for China in the first quarter of the year is now at a positive 7% mark year on year. The previous forecast for the Chinese GDP was 7.3%.
Even though the Chinese administrators have argued the cast that the Chinese economy is under constant downward pressure, the official Gross Domestic Product goals are set at a high 7%. The Chinese economy is in the process of shifting to being more dependent on the domestic consumption, and trying to reduce the reliance on the country’s export. The latest data released on Monday confirm the Chinese efforts, as the export has been cut by 14.6% year on year, with the 12.3% reduction in imported goods in the same period.
All of the other indicators are showing the same trend, with the industrial production in March expected to be 7% higher than last year, the fixed assets (not including rural) expected to reach 13.9% and retail sales expected to rise 10.9%