China Q2 GDP, Retail Sales Beat Expectations

Judith Bessette
Julho 17, 2017

Data released last Thursday showed China's exports rose a stronger-than-expected 11.3 per cent in June from a year earlier and imports rose by 17.2 per cent in the year to June.

Silver prices rose on Monday, building off last week's rebound as investors turned their attention to an active week dominated by corporate earnings and central banks. The recent crackdown on financial risks has driven a slowdown in credit growth, which will weigh on the economy during the second half of this year, the economist noted.

Despite the strong result, the NBS said that that there are "still many unstable and uncertain factors overseas and long-term structural contradictions remain prominent at home". Industrial output, which rose 7.6% from the same period past year, paced the GDP gains, while an 11% surge in retail sales underscored the strength of the domestic consumer economy.

Many analysts expected China's economy to slow as those policies kicked in.

Like the GDP report, separate data on industrial output, retail sales and urban fixed asset investment all topped market expectations for June.

Over the half, China produced 419.75 million tonnes of crude steel, up 4.6% on the same period a year earlier.

Four crew members rescued after casino cruise ship hits sandbar in Goa
The Indian Coast Guard carried out medical evacuation of four patients from a vessel off Panjim coast. The vessel should be removed from the sandbar or else it will affect the Miramar beach, he said.

The ratings agency on Friday maintained its A+ rating on China with a stable outlook. The annual growth was forecast to slow to 6.8%.

"What's really driving the deceleration expectation of ours are government policies", said Yao.

The conference showed that authorities will intensify financial regulation "unprecedentedly, through a much more centralised and empowered organisational set-up", ANZ's China economist Raymond Yeung said in a note. But growth is being pressured as Beijing tightens controls on bank lending to rein in a surge in debt levels.

The improving economy is no doubt welcome news ahead of an autumn congress of the ruling Communist Party of China, at which President Xi Jinping is widely expected to tighten his grip on power, with leadership keen to ensure a smooth run-up to the meetings.

The Chinese economy expanded at a faster pace in the second quarter, with broad measures of economic growth picking up speed.

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