China’s Q2 GDP beat expectations on qtr/qtr basis, but retail sales underwhelmed, reminding about sluggish consumption. However, China’s National Bureau of Statistics said it remains confident about reaching this year’s targets.
The People’s Bank of China made no changes to its one-year medium-term lending facility, but expectations remain in place for more rate adjustments in the coming months.
China’s Q2 GDP 0.8% qtr/qtr (expected 0.5%; last 2.2%); 6.3% yr/yr (expected 7.3%; last 4.5%). June Industrial Production 4.4% yr/yr (expected 2.7%; last 3.5%), June Retail Sales 3.1% yr/yr (expected 3.2%; last 12.7%), June Fixed Asset Investment 3.8% yr/yr (expected 3.5%; last 4.0%), and June Unemployment Rate 5.2%, as expected (last 5.2%). June House Prices 0.0% yr/yr (last 0.1%)