China Q2 GDP hits expectations, Industrial Production slides

China's Gross Domestic Product for 2018's second quarter managed to improve slightly on expectations, with the y/y figure coming in at the expected 6.7% (previous, 6.8%), but the q/q reading showed a more-than-expected improvement, clipping to 1.8% versus the forecast 1.6%, compared to the last reading of 1.4%.

Meanwhile, China's y/y Industrial Production figures for May clocked in at 6.0%, below the expected 6.5% (last 6.8%), while China's y/y June Retail Sales came in at expectations, printing at 9.0% (last 8.5%).

China's National Bureau of Statistics noted that the Chinese economy maintained a steady growth trend through the first half, which puts China on par to achieve full-year growth targets, but the NBSC was quick to point out that uncertainties from the "external environment" remain a risk.