China’s GDP expands 6.3% YoY in Q2 vs. 7.3% expected

Dhwani Mehta FXStreet

According to the latest data published by the National Bureau of Statistics (NBS) on Monday, the Chinese economy grew 6.3% annually in the second quarter of this year, compared with a 4.5% growth seen in the first quarter while missing the 7.3% increase expected.

On a quarterly basis, China’s Gross Domestic Product (GDP) expanded 0.8% in Q2 vs. 0.5% expected and 2.2% previous.

China’s June Retail Sales YoY, rose 3.1% vs. +3.2% expected and +12.7% previous while the country’s Industrial Production came in at 4.4% YoY vs. 2.7% forecasts and 3.5% prior.

Meanwhile, the Fixed Asset Investment increased 3.8% YTD YoY in June vs 3.5% expected and 4.0% last.

Market reaction

The Australian Dollar is unperturbed by the mixed Chinese data releases, as AUD/USD is keeping its downside intact. The AUD/USD pair is losing 0.20% on the day to trade at 0.6819, as of writing.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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