China GDP Growth Steady in Q2


The Chinese economy grew an annual 7.0 percent in the second quarter of 2015, the same pace as in the previous three-month period and slightly beating market consensus. An increase in manufacturing and a rebound in exports were able to offset cooling property market and steady investment.

Year-on-year, fixed asset investment increased 11.4 percent in the first six months of 2015, remaining flat from the first five months of the year. Property investment rose 4.6 percent in the first six months of 2015, easing from  a 5.1 percent increase in January to May. 

In June, the industrial sector expanded 6.8 percent year-on-year, accelerating from 6.1 percent in the previous month . The manufacturing sector rose 7.7 percent, mining was up 2.7 percent and the production and supply of electricity, heat, gas and water increased 2.1 percent.

Retail sales rose 10.6 percent, quickening from 10.1 percent in May. Meanwhile, exports unexpectedly grew by 2.8 percent, following a 2.5 percent drop in the preceding month. Imports declined by 6.1 percent after registering a 17.6 percent drop in May.

The country's statistics office attributed the steady growth to recent policy stimulus.

On quarterly basis, the GDP expanded 1.7 percent, compared to an upwardly revised 1.4 percent in the March quarter. 

For 2015, the Chinese government expects the economy to grow around 7 percent, the weakest expansion in 25 years. 

In 2014, the country registered a 7.4 percent expansion.

China GDP Growth Steady in Q2


National Bureau Statistics l Rida Husna l rida@tradingeconomics.com
7/15/2015 4:19:13 AM