GDP growth slid to 1.8% year-on-year in the second quarter of 2014, down from 2.6% in the first quarter. Weaker performance of the retail sector, driven by slower growth in tourist visits and spending, in addition to domestic spending and investment, continue to weigh on the economy. Retail sales value decreased by 1.0% year-on-year during the first eight months of 2014.
External trade continues to show gradual improvement as the recovery of some advanced economies gains traction. Total exports through August rose by 3.8% year-on-year. Meanwhile, the Chinese economy has remained resilient, and the HSBC China Composite PMI posted a 17-month high of 52.8 in August. Inflation stood at 3.9% in August, remaining relatively stable this year. Unemployment has trended slightly upward, but is still low at 3.3% for the three months ended August.
Source : Cushman & Wakefield