Valdosta Daily Times

Top News

April 17, 2014

China’s growth slows to 7.4 percent in 1Q

BEIJING — China’s economic growth slowed further in the latest quarter but appeared strong enough to satisfy Chinese leaders who are trying to put the country on a more sustainable path without politically dangerous job losses.

The world’s second-largest economy grew 7.4 percent from a year earlier in the January-March quarter, down from the previous quarter’s 7.7 percent, government data showed Wednesday.

It matched a mini-slump in late 2012 for the weakest growth since the 2008-09 global crisis.

Beijing is trying to guide China’s economy toward growth based on domestic consumption instead of trade and investment following the past decade’s explosive expansion. The top economic official, Premier Li Keqiang, last week ruled out new stimulus and said leaders will focus on “sustainable and healthy development.”

“Chinese growth held up better than expected last quarter and there are signs that downwards pressure on growth has eased somewhat,” said analyst Julian Evans-Pritchard of Capital Economics in a report.

Retail sales and factory output were weaker than in the previous quarter but improved in March. On a quarter-to-quarter basis, economic growth from January to March slowed to 1.4 percent from the previous period’s 1.8 percent.

The data reflect official efforts to shift emphasis from investment-intensive industry to services such as restaurants and retailing that generate more jobs.

Credit growth slowed in March and the expansion of China’s overall money supply rose at its slowest rate since 1997.

Housing sales in the first quarter declined 5.7 percent from a year earlier.

“The continued slowdown in money and credit growth is likely to keep exerting relentless downward pressure on China’s economic growth,” said Societe Generale economist Wei Yao in a report.

1
Text Only
Top News
  • Lake Park considers millage rate increase

    Lake Park has tentatively adopted a millage rate which will result in a 29.64 percent increase in property taxes.

    July 28, 2014

  • Free Health Fair slated for August 9th

    A free health fair hosted by the 100 Black Men of Brooks-Grady-and-Thomas Counties, Inc. and sponsored by Archbold Hospital will take place on August 9th  from 8:00am until 12 noon.

    July 28, 2014

  • BtpsXVpIgAEXKB-.jpg Manhunt underway for drivers of stolen dump truck

    This morning, around 8:00 deputies from the Lowndes County Sheriff’s Office attempted to stop a dump truck traveling south on I-75.

    July 28, 2014 1 Photo

  • Kingston’s loss means less clout for Ga.

    For two decades, Rep. Jack Kingston was a congressman who routinely crushed his opponents on election night — winning a new term every other year with vote totals between 63 and 77 percent.

    July 28, 2014

  • IMG_3745.jpeg Gas leak on West Adair

    A gas leak has occured on West Adair Street, between Tombs and Oak Street. The leak began just after 11 a.m.

    July 28, 2014 1 Photo

  • salmonella 2 copy.jpg Trial nears for suspects in salmonella case

    Three people accused of scheming to manufacture and ship salmonella-tainted peanuts that killed nine people, sickened more than 700 and prompted one of the largest food recalls in history are set to go to trial this week in south Georgia.

    July 28, 2014 1 Photo

  • AP4507280123 copy.jpg Today in History for Monday, July 28, 2014
    Today is Monday, July 28, the 209th day of 2014. There are 156 days left in the year. 
     

    July 28, 2014 1 Photo

  • Commercial driver training program expanding

    Department of Driver Services (DDS) Commissioner Rob Mikell announced recently an expansion of the commercial driver training program administered by the Agency’s Regulatory Compliance Division. DDS will now offer a Commercial Driver License (CDL) Instructor Training Class for customers who have applied to be CDL instructors. The session will provide additional guidance as the applicants prepare for the final exam.

    July 28, 2014

  • Tentative deal reached on VA reform

    The chairmen of the House and Senate Veterans Affairs committees have reached a tentative agreement on a plan to fix a veterans’ health program scandalized by long patient wait times and falsified records covering up delays.

    July 27, 2014

  • Heat advisory for much of South Georgia

    A heat advisory is in place for much of South Georgia until 7 p.m.

    July 27, 2014

Top News
Poll

Do you agree with the millage rate increases?

Yes. We need to maintain services
No. Services should have been cut.
     View Results