China GDP growth, industrial output up

    Shutterstock photo

    Investing.com -

    INVESTING.COM - China growth data topped expectations Monday.

    GDP for the second quarter was up 6.9% year-on-year with growth in the second quarter coming in at 1.7%.

    Fixed asset investment was also up, with increases between January to June of 8.6% on year, ahead of expectations. Property investment increased 8.5% in the first half of the year. Retail sales were also positive, increasing 11% in June from a year earlier. Fixed-assed investment in non-rural areas increased 8.6% in the first half of the year.

    Value-added industrial output in June rose by 7.6%. A proxy for economic growth, the increase was higher than the 6.5% reported in May, according to the National Bureau of Statistics. Month-on-month, industrial productions increased 0.81% in June, 0.3% higher than in May.

    China's growth target for the year is around 6.5%, compared to the 6.7% target for 2016, which growth was at its lowest point in 26 years. Growth for the first half of the year is now at 6.9%, which gives the govenrment some room to accept slightly lower growth in the second half.

    Investing.com offers an extensive set of professional tools for the financial markets.
    Read more News on Investing.com and download the new Investing.com apps for Android and iOS! https://i-invdn-com.akamaized.net/news/LYNXNPEB9P0KU_M.jpg © Reuters.

    The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

    This article appears in: Investing , Forex

    More from Investing.com




    Forex, Equities

    Research Brokers before you trade

    Want to trade FX?