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China’s economic pulse steadies as Q2 growth surprises

Updated: Jul 15,2015 3:54 PM     english.gov.cn

China’s economic pulse appears to be steadying, with June retail sales and industrial production as well as second-quarter gross domestic product (GDP) all beating forecasts.

GDP grew 7.0 percent on-year in the second quarter, beating a Reuters poll forecast for 6.9 percent. Industrial output for June rose 6.8 percent on-year, beating a Reuters poll forecast for 6.0 percent, while last month’s retail sales climbed 10.6 percent, ahead of the Reuters poll forecast for 10.2 percent.

China’s National Bureau of Statistics attributed the stabilization to recent policy steps.

China’s equities have also taken a severe beating in the recent weeks — down around 24 percent from the 52-week high — as panic selling gripped the market, but stability appears to have returned after a series of series of government measures to shore up investor confidence.

-- CNBC on July 15