BEIJING, June 23 (Xinhua) -- Statistics showed the decline in China's economy has bottomed out, said an article posted on the website of the National Bureau of Statistics (NBS) Tuesday. The quarter-on-quarter GDP changes proved the bottom should be in the fourth quarter last year.
GDP growth was 2 percent up in the third quarter in 2008 from the previous quarter, 0.1 percent up in the fourth quarter, 1.5 percent in the first quarter this year and was expected to be 2 percent in the second quarter.
Figures on industrial output showed the bottom should be from November 2008 to February 2009.
Industrial output was rebounding since March and the figure in May was almost at the same level as in October last year. Industrial output was 8.3 percent up in March year on year, 7.3 percent up in April and 8.9 percent up in May.
Industrial output in the fourth quarter last year was down 3.4 percent from the previous quarter, but the figure in the first quarter this year was 3.2 percent up quarter on quarter.
Steel production began expanding in December last year and reached 1.85 million tonnes in May, top level since last year.
Daily power generation began growing from March this year with figures topping 9 billion kilowatt-hours in March, April and May and almost 10 billion kilowatt-hours in the first ten days of June.
Despite these positive indices, China's economy faced obstacles to maintaining a stable economic rebound because of recession in most parts of the world, sluggish demand for Chinese products, production overcapacity in some industries and possible inflation.
