China Grows 7.5% in Q2

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.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza