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Monday, June 20, 2005

China Industrial Output Still Running At a Fast Clip

Latest figures on fixed asset formation show that the 'growth explosion' seems to still have plenty of life left in it:

"China's fixed-asset investment picked up for a third straight month in May as more power plants and railways were built to reduce blackouts and ease transportation bottlenecks in the world's fastest-growing major economy.

Investment in urban areas rose 26.4 percent from a year earlier to 1.97 trillion yuan ($238 billion) in the first five months, the Beijing-based statistics bureau said on its Web site. The increase is the biggest this year and follows a 25.7 percent gain for the first four months

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