Free Trial

MNI BRIEF: China Q2 GDP Slows More Than Expected To 4.7% Y/y

MNI (Singapore)
MNI (Beijing)

The Chinese economy slowed more than expected in Q2 to 4.7% y/y, missing the median forecast of 5.0% as insufficient domestic demand and summer flood weighed, data released by the National Bureau of Statistics on Monday showed.

GDP came in at 5.0% in the first half, still on track of the country's annual target of "around 5%".

Retail sales grew 2.0% y/y in June to hit the lowest level in one and a half years. The figure decelerated from May's 3.7% gain and underperformed the 3.3% forecast. Retail sales grew 3.7% y/y in H1, lower than the 4.1% in Jan-May.

Industrial production rose 5.3% y/y in June, decelerating for the second month from May's 5.6% growth but outperforming the expected 5.0%. Industrial output grew 6.0% in H1, compared to the 6.2% in Jan-May.

Fixed-asset investment registered a 3.9% y/y increase in H1, moderating from the 4.0% growth over the Jan-May period and basically in line with the 3.8% consensus. Property investment fell by 10.1%, maintaining the same decrease. Infrastructure investment and manufacturing investment grew by 5.4% and 9.5%, compared with the previous 5.7% and 9.6%.

True

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.