China s gross domestic product (GDP) expanded 12.7 percent year on year in the first half of 2021 as recovery continues to consolidate, powering global economic expansion amid the raging pandemic.
The figure puts average H1 growth for the past two years at 5.3 percent, 0.3 percentage points faster than the two-year average of Q1 growth from the 2019 level, according to the National Bureau of Statistics (NBS).
In the second quarter, the country s GDP grew 7.9 percent year on year, following an 18.3 percent Q1 growth, when strong domestic and foreign demand powered recovery from a low base in early 2020 due to the COVID-19 blow.
The national economy has, in general, sustained a steady recovery in the first half, said Liu Aihua, a spokesperson with the NBS, noting that the fundamentals in the first half laid a good foundation for the economic operation in the second.
2021-07-16 01:30:24 GMT2021-07-16 09:30:24(Beijing Time) Xinhua English
BEIJING, July 15 (Xinhua) China s gross domestic product (GDP) expanded 12.7 percent year on year in the first half of 2021 as recovery continues to consolidate, powering global economic expansion amid the raging pandemic.
The figure puts average H1 growth for the past two years at 5.3 percent, 0.3 percentage points faster than the two-year average of Q1 growth from the 2019 level, according to the National Bureau of Statistics (NBS).
In the second quarter, the country s GDP grew 7.9 percent year on year, following an 18.3 percent Q1 growth, when strong domestic and foreign demand powered recovery from a low base in early 2020 due to the COVID-19 blow.
Daily Times
July 16, 2021
Wall Street stocks declined early Thursday, extending a period of choppiness as investors weigh better employment data and the latest dovish Federal Reserve commentary.
New applications for US unemployment benefits fell to 360,000 last week, the lowest level since the start of the Covid-19 pandemic, Labor Department data showed. The improving jobs picture comes as markets await a second day of congressional testimony from Federal Reserve Chair Jay Powell, who acknowledged on Wednesday that inflation had topped expectations, but said the US economy still needs significant support to fully recover.
About 15 minutes into trading, the Dow Jones Industrial Average was down 0.3 percent at 34,827.06. The broad-based S&P 500 also fell 0.3 percent to 4,361.93, along with the tech-rich Nasdaq Composite Index, which stood at 14,601.54.
The cost of used vehicles popularly called “Tokunbo cars” may spike in the coming months due to an economic phenomenon termed imported inflation.
Imported inflation is a rise in the cost of raw materials or finished goods imported from a country of origin that is experiencing high inflation.
The rising inflation on consumer goods in the United States of America is on the verge of triggering a wave of imported inflation into Nigeria, with a focus on used cars, a major imported item from the world’s largest economy.
How it affects Nigeria
Over 20% of Nigeria’s imports from the US are used vehicles. Nigeria is a huge market for used cars, imported from Europe, America and other foreign countries, however, the United States of America is the leading country of import for Nigeria.
July 16, 2021
Beijing: China s sharp economic rebound from last year s pandemic slowdown lost steam in the second quarter, official data showed on Thursday, with consumers lacking the confidence to splurge.
The world s second-largest economy has staged a rapid recovery from last year´s slump caused by the coronavirus pandemic, but its pace is easing with manufacturing slowing and consumer demand not picking up as quickly as expected.
China´s GDP growth came in at 7.9 percent year-on-year in the April to June period, said the National Bureau of Statistics (NBS) a significant drop from the 18.3 percent surge in the first three months.