China Surges, Yet Again!

Think China’s economy is slowing? Think again. China continues to power ahead and flaunt its growing economic prowess …

* Retail sales soared $126 billion — or 21.6% — in May, the second-fastest rate on record
* Oil imports exploded 25% in May, the fastest pace in 10 months
* Auto sales jumped 32% from a year earlier
* Sales of construction materials rose 9.3% in May after a decline in April
* Exports surged 28% in May after a 22% gain in April
* Incomes continue to rise — up 11.5% in the first quarter compared to a year earlier

Add in the Sichuan earthquake reconstruction and the Beijing Olympics that are on the horizon, and I don’t think China’s economy will be cooling anytime soon!

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