An indicator of economic activity in China increased in July, signaling a continuation of economic expansion through the end of this year, albeit at a slower pace.
The Conference Board said that the index increased 0.6 percent from a month earlier to 158.6 in July. This followed a 0.9 percent rise in June.
Though the indicator signals continued growth, the strength in leading indicators has been concentrated in bank credit expansion and real estate investment so far this year, while the one-off effect from improved consumer expectations in June abated in July, Conference Board economist Jing Sima said.
Industrial output, employment, and consumer spending continued to drive the rising trend in the index, tracking current conditions for China through July, but their rate of growth has tapered off noticeably, the economist added.
The coincident economic index, which measures current economic activity, increased 0.4 percent in July to 205.5, following a 1.2 percent increase in June. Both the leading and coincident indices suggest that the rate of economic growth will be slower in 2011 than last year, according to Jing Sima.
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