China’s growth picked up momentum in the second quarter, buoyed by a raft of stimulus measures unleashed by the government in recent months to support the world’s second largest economy.
The country’s gross domestic product (GDP) grew 7.5 percent in the second quarter from the year-ago period, beating a broad consensus estimate of 7.4 percent and coming after the 7.4 percent expansion in the first quarter.
Quarter on quarter growth clocked in at 2 percent, versus the 1.8 percent forecast and following the 1.4 percent growth in the previous quarter.
Beijing also released a raft of other data which beat forecasts: June industrial output rose 9.2 percent on-year, better than the 9 percent consensus, while fixed asset investment grew 17.3 percent in the January-June period, a tad better than the forecast for 17.2 percent growth.
Retail sales for June came in line, up 12.4 percent on an annual basis.