Bookmark Jamaica-Gleaner.com
Go-Jamaica Gleaner Classifieds Discover Jamaica Youth Link Jamaica
Business Directory Go Shopping inns of jamaica Local Communities

Home
Lead Stories
News
Business
Sport
Commentary
Letters
Entertainment
What's Cooking
More News
The Star
Financial Gleaner
Overseas News
The Voice
Communities
Hospitality Jamaica
Google
Web
Jamaica- gleaner.com

Archives
1998 - Now (HTML)
1834 - Now (PDF)
Services
Find a Jamaican
Careers
Library
Power 106FM
Weather
Subscriptions
News by E-mail
Newsletter
Print Subscriptions
Interactive
Chat
Dating & Love
Free Email
Guestbook
ScreenSavers
Submit a Letter
WebCam
Weekly Poll
About Us
Advertising
Gleaner Company
Contact Us
Other News
Stabroek News

Consumer spending up in China
published: Thursday | May 15, 2008


An overview shows Beijing's central business district. - AP

China's consumer spending rose 22 per cent in April as outlays for food, housing and energy grew sharply, according to official data reported Tuesday.

Chinese consumer spending, fuelled by an economy that grew by 10.6 per cent in the first quarter, has stayed strong even as demand in the United States and elsewhere weakens.

That has raised hopes that China might help to drive global growth as its imports expand.

Real consumption

Spending on food jumped by 25.3 per cent in April compared with the same month last year, the National Bureau of Statistics reported.

It said spending on housing rose 25.2 per cent, while that for fuel was up 45.4 per cent.

The April growth rate was the highest monthly level in a decade, according to Goldman Sachs.

"While real wage income growth has softened in recent months, it remains at a firm level and we expect it to provide support for real consumption going forward," Goldman Sachs economists Yu Song and Hong Liang said in a report.

Retail pending also has been driven by a surge in inflation that is forcing consumers to pay more for food and other basics.

Boosting China's imports

Inflation in April rebounded to nearly decade-high levels as prices rose 8.5 per cent compared with the same month last year, according to official data released on Monday.

Consumer spending helped to boost China's imports by 26 per cent in April over the same month last year, according to customs data.

Beijing is trying to encourage Chinese consumers to spend more as part of a strategy to reduce reliance on exports to drive economic growth.

- AP

More Business



Print this Page

Letters to the Editor

Most Popular Stories






© Copyright 1997-2008 Gleaner Company Ltd.
Contact Us | Privacy Policy | Disclaimer | Letters to the Editor | Suggestions | Add our RSS feed
Home - Jamaica Gleaner