Asia Pacific: Economic overview
China’s economy shows signs of stabilising as a slowdown emerges in India.
Government spending looks to be supporting increased economic stability in China. Industrial output rose by 6.3% on an annual basis in August, up from 6% in July. Retail sales growth also increased, rising to 10.6% year on year in August compared with 10.2% in July. The government has been pushing through an investment programme that includes spending on infrastructure. China’s GDP is forecast to grow by around 6.5% this year boosted by improved growth seen in August. This will support continued growth in gas consumption, which is expected to rise by around 8% in 2016, up from the 6% expansion seen last year.