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China GDP Growth Slows; Industrial Output, Retail Sales, Investment Beat Forecasts

Published 07/15/2019, 12:08 AM
Updated 07/15/2019, 12:10 AM
© Reuters.

Investing.com - China’s second-quarter GDP growth slowed to a 27-year low, data showed on Monday, but the country’s industrial output, retail sales and fixed-asset investment all beat forecasts.

The country’s GDP growth slowed to 6.2% in the April-June period from a year earlier, data from the statistics bureau showed on Monday. The figure was in line with expectations but lower than first quarter’s 6.4% year-on-year growth.

Meanwhile, industrial output climbed 6.3% from 12 months earlier, compared to the expected 5.2%.

Fixed-asset investment for the first half of this year rose 5.8% from 12 months earlier, in contrast to a 5.6% forecast.

Retail sales for June rose 9.8%, eclipsing expectations for a slight pullback to 8.5%.

Elsewhere, China’s new home prices grew 10.3% year-on-year in June, compared to the expected 10.7%.

Chinese stocks traded higher following the release of the data.

The Shanghai Composite was up 0.8% by 12:07 AM ET (04:07 GMT), while the Shenzhen Component gained 1.4%.

Latest comments

USA GDP is doing great.. How's the trade war Mr wang
Hmmm.
during Cultural Revolution China shot all intellectuals and descended into the stone age. it is easy to grow by 6% of total devastation when this path is covered by other countries 100 years ago. Try to demonstrate 6% of the unknown path.
 the Soviet Union collapsed when the difference in the standard of living with the United States was 12 times. China is 7 times behind, totally dependent on Western economies
China is a powerhouse fast becoming the undisputed Super Power. With 1.4B consumers, it will surpass all and make a record number one economy for the ages to come. We shou see the Eastern Dragon fly real high up and up and up.
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