In the second quarter, China’s economic growth rate has been announced: preliminary statistics, China’s GDP in the second quarter increased by 6.2% year-on-year, slightly lower than the 6.4% in the first quarter, the first half of China’s economic growth rate was 6.3%. The overall situation remained stable and there was no ups and downs.
In terms of economic aggregates, China’s total GDP in the first quarter was about 21,343.28 billion yuan, about 2,375.502 billion yuan in the second quarter, and 450.93 billion yuan in the first half of the year. It was converted to an average exchange rate of the first half of the year, which was about 6.65 trillion US dollars. According to this calculation, the total GDP of China in 2019 is expected to reach 97 trillion yuan (not including the economic census).
Analysts believe that in the first half of 2019, China’s economy achieved a real growth of 6.3%, which is a good result, and is also among the top in the world’s major economies. Moreover, in June, major economic indicators rebounded. For example, consumption-driven retail sales of social consumer goods rebounded significantly.
In terms of investment, the growth rate of the manufacturing industry has rebounded slightly, the export growth rate is still higher than the import growth rate, and the trade surplus is still high. The overall economic data performance in June is in line with our relatively optimistic expectations, slightly better than market expectations. However, we must also see that the current domestic and international economic situation is still complicated and severe, and the economy is facing new downward pressure.
What is the economic growth rate of the US in the second quarter?
China and the United States are still the main locomotives of the global economy. The Chinese economy has slowed slightly, but overall stability. What is the performance of the US economy in the second quarter of this year?
In this regard, we look at the United States’ own research institutions are predicted – Reuters New York reported on July 16, based on the latest data, the Federal Reserve Bank of Atlanta GDP Now prediction model shows: the second quarter of 2019, the US economy increased Speed or only 1.6%.
In the previous forecast, the Federal Reserve Bank of Atlanta gave a value of 1.4%. The reason for this slight increase is that the core retail sales in the US increased by 0.7% in June, better than the market expectation of 0.3%. However, in June, US industrial output increased by only 0.0% from the previous month, slightly lower than the market expectation of 0.1%.
Moreover, in May, the US trade deficit reached US$84.713 billion, an increase of 8.4% year-on-year. Overall, the “demand” of US residents has improved slightly, but the manufacturing industry is still weak and the deficit is still not small. Therefore, the economic growth rate in the second quarter is obviously worse than that in the first quarter.