China's Economy Expands 7.5% in Q2
China's GDP grew 7.5 percent from April to June from a year earlier, slightly more than expectations and up from 7.4 percent in the first quarter boosted by a series of stimulus measures announced by the government in April.
7/16/2014 12:38:02 PM
After weak data early in the year, the government launched a series of small stimulus measures including further expansion of the rail network, increased spending on public housing construction projects. In May, Premier Li Keqiang said that targeted growth of 7.5 percent for 2014 is a minimum level.
Although exports growth rebounded in April, May and June and factory output rose more than expected in June more support may be needed in coming months to sustain the growth. In the first six months, fixed asset investment climbed 17.3 percent yoy, 0.3 percentage point slower than the first quarter. Also in June, retail sales rose 12.4 percent yoy, down from 12.5 percent growth in May.
Quarter-on-quarter, the GDP expanded 2 percent, compared with a revised 1.5 percent pace in the first three months of 2014.