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Macroeconomic outlook report: China

Second quarter of 2017

In the second quarter of the year, the Chinese economy recorded a year-on-year growth rate of 6.9%, the same that the one presented in the previous quarter. The unemployment rate kept at the 4%. The renminbi appreciated slightly against the dollar during the second quarter, reaching 6.88 RMB/$ after an increase of 0.05 RMB/$ compared to the previous quarter. Inflation stays at the 1.4%, as in 1Q17.

Macroeconomic overview

  • In the second quarter of 2017, China's GDP grew by 0.3 p.p. when compared to the same quarter of the previous year, reaching a year-over-year growth rate of 6.9%. This acceleration was due to the acceleration of consumption in the Chinese economy.
  • The unemployment rate keeps at the 4%, staying at the same rate than in the previous quarter.
  • The renminbi appreciated slightly against the dollar during the second quarter, reaching 6.88 RMB/$ after an increase of 0.05 RMB/$ compared to the previous quarter.
  • Inflation stays at a year-on-year growth rate of 1.4%, the same rate than in the first quarter of 2017. This rate is below the 3% target set by the People’s Bank of China.

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© GMS Management Solutions, S.L., 2018. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.