Economy said to show signs worst is over
Multiple economic indicators in recent months suggest the Chinese economy is over the worst as pro-growth and reform measures take effect, according to the National Bureau of Statistics (NBS).
“Positive changes are occurring due to government policies and reform measures,” according to Sheng Laiyun, NBS spokesperson, who made the remarks in an interview hosted on the bureau’s website on Monday.
Sheng said that improvements in industrial output, fixed asset investment, and expanding consumption indicated an economic upturn.
In May, industrial value-added output picked up pace and grew 6.1 percent year on year, up 0.2 percentage points from the previous month while urban fixed asset investment increased 9.9 percent, also up compared to 9.6 percent in April; and sales of consumption goods expanded 10.1 percent in May, up 0.1 percentage point from April.