FXstreet.com (San Francisco) - According to the National Bureau of Statistics, China’s economy grew slightly larger-than-expected with GDP at 1.8% in Q2, and at a pace of 7.6% in Q2 from a year ago. The on-quarter reading beat consensus forecasts of 1.7% growth, and came as predicted for the year, helping ease worries about a hard landing for the world's second biggest economy.
Also, the National Bureau of Statistics of China reported a better-than-expected 13.7% increase in Retail Sales in the year to June vs. expectations of a 13.6% increase, while Industrial production figures came in soft at 9.5% vs. a consensus forecast of 9.8%.
Also, the National Bureau of Statistics of China reported a better-than-expected 13.7% increase in Retail Sales in the year to June vs. expectations of a 13.6% increase, while Industrial production figures came in soft at 9.5% vs. a consensus forecast of 9.8%.
