WASHINGTON New Orleans Saints Throwback Jersey , Sept. 12 (Xinhua) -- U.S. retail sales rise slightly in August, indicating the economic activity in the country continues to improve in the month.
In August, U.S. retail sales edged up 0.6 percent from previous month, the Commerce Department said Friday. July' s growth was revised up to 0.3 percent from previous estimate of zero growth.
Excluding volatile categories such as autos and gasoline, retail sales were up 0.5 percent in August, following a rise of 0.3 percent in July.
Retail sales account for about one-third of consumer spending New England Patriots Throwback Jersey , the main engine of the economic activity. Recent data, including auto sales and manufacturing indicators, showed that the world's largest economy was on track to growth momentum in the third quarter.
BEIJING, March 5 (Xinhua) -- China lowered its 2017 economic growth target on Sunday to the much-speculated "around 6.5 percent," the lowest target in a quarter of a century, in a show of its resolve to put quality over fast growth.
China will pursue even higher rates if possible Minnesota Vikings Throwback Jersey , according to a government work report delivered by Premier Li Keqiang at the opening meeting of the annual session of China's top legislature.
This closely-watched target marks a 25-year low, down from last year's target range of 6.5-7 percent and actual growth of 6.7 percent.
The previous low was a 6-percent target for gross national product growth in 1992.
The expected target is in line with both economic laws and realities, Li said, adding that it will help stabilize market expectations and facilitate the country's structural adjustments.
It will also contribute to meeting the goal of building a "moderately prosperous society in all respects" by 2020.
"An important reason for stressing the need to maintain steady growth is to ensure employment and improve people's lives," Li said.
This year's target for urban job creation is over 11 million, up from a 10-million target for 2016 Miami Dolphins Throwback Jersey , underlining the growing importance China attaches to employment.
"Considering our sound economic fundamentals and the capacity they bring for job creation, this target is attainable with hard work," the premier said.
A REASONABLE TARGET
China has set a "reasonable target" for economic growth, said Jia Kang, a national political advisor and chief economist with the China Academy of New Supply-side Economics.
China's year-on-year growth has slowed for six years in a row, falling from a growth rate of more than 10 percent in 2010.
The lower target was within general market expectations Los Angeles Rams Throwback Jersey , as most analysts and institutions had forecast a similar target.
"We expect China to set its GDP growth target at about 6.5 percent for 2017, and it could grow 6.6 percent this year," Ding Shuang, economist with Standard Chartered, had predicted previously.
J.P. Morgan China chief economist Zhu Haibin forecast in a research note earlier this month that the target range will not change from last year, but the actual growth rate will be 6.5 percent.
The International Monetary Fund (IMF) also said in a January report that China's growth will be 6.5 percent this year.
"With more and more encouraging signs for economic improvement Los Angeles Chargers Throwback Jersey , the economy may find the bottom near this year's target," Jia said.
China's 6.7 percent growth last year outpaced most other economies and accounted for more than 30 percent of global growth, according to the report.
Last year, the consumer price index rose 2 percent. Industrial profits rose 8.5 percent, reversing a drop of 2.3 percent in 2015. Energy consumption per unit of GDP fell 5 percent.
QUALITY OVER QUANTITY
"Both the quality and efficiency of economic performance improved markedly last year," the premier said.
In the past few years Kansas City Chiefs Throwback Jersey , more and more weight has been put on the quality, rather than the amount and speed, of economic growth.
"Seeking progress while maintaining stability" is reiterated in the report as the main theme guiding China's economic work.
While seeking stability, China is aiming for better quality in its economic growth and is sparing no effort to strike a balance between medium-high growth and economic restructuring.
The economy is shifting toward a growth model driven more by new engines such as consumer spending, innovation and services as policymakers wean the economy off reliance on export and investment.
Last year, consumption played a major role in driving growth and the service sector's share in GDP rose to a new high of 51.6 percent Jacksonville Jaguars Throwback Jersey , pointing to further improvement in economic structure.
Against the backdrop of sluggish world economic growth, backsliding on globalization and growing protectionism, Li said China is enjoying good conditions for sustained economic growth.
China has a solid material basis, abundant human resources, a huge market and a complete system of industries. It is also making faster scientific and technological progress and has a complete range of infrastructure, the premier said.
"China also has many innovative tools and policy options for conducting macroeconomic regulation Indianapolis Colts Throwback Jersey ," Li said.
In 2017, China will continue to implement a proactive fiscal policy and a prudent monetary policy to hold the economy within an appropriate range, according to the report.
The government will apply a full range of monetary policy instruments, maintain basic stability in liquidity and hold market interest rates at an appropriate level.
China will continue to put the center on the quality and efficiency of economic growth, Li added.
"What I treasure most is not the exact percentage for the bottom of China's growth, but that the economy can level up on a platform of better economic structure and higher quality after hitting the possible lowest growth Houston Texans Throwback Jersey ," Jia Kang said.
TOP ENGINE FOR WORLD GROWTH
The lower target is not as bad as it looks.
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