China GDP grows faster than expected, retail sales fall.
China’s economy grew faster than expected in the second quarter, according to official data published on Tuesday, despite pressure from US tariffs.
Source: Sharecast
GDP expanded by 5.2% in the three months to June, the National Bureau of Statistics said, beating estimates of 5.1%, but slower than the first quarter’s 5.4%.
Growth was boosted by a 6.4% expansion in manufacturing, with higher demand for 3D printing devices, electric vehicles and industrial robots.
Meanwhile June retail sales growth slowed to 4.8% year on year, compared with a 6.4% yearly increase in May and forecasts of 5.4%.
Industrial output expanded by 6.8% from a year ago compared with median estimates of 5.7%.
Reporting by Frank Prenesti for Sharecast.com
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