China’s GDP grew by 7.6% yoy in second quarter 201213 July, 2012, 10:08. Posted by Zarathustra
China’s National Bureau of Statistics reports that China’s GDP grew by 7.6% in real term in the second quarter compared to a year ago, slightly below the consensus estimate of 7.7% yoy.
On a quarter-on-quarter basis, GDP increased by 1.8% in second quarter in real term, above estimates of 1.6%, while the first quarter GDP qoq growth was revised down from 1.8% to 1.6%.
Annualised quarter-on-quarter growth for second quarter picked up from 6.6% to 7.4%.
In nominal term, the second quarter GDP increased by 10.1% yoy, implying a GDP deflator of roughly 2.4%, confirming that there is very little inflationary pressure and on its way to debt deflation.
Source: National Bureau of Statistics
[Note: there was an error on calculation of deflator earlier, apology]