China GDP surge tops expectations

China GDP surge tops expectations

On Monday, China surge data managed to surpass expectations.

The country’s GDP for the second quarter inched up 6.9% year-on-year, and surge in the second quarter was 1.7%.

As for fixed asset investment, it grew too, with leaps from January to June of 8.6% on year, surpassing expectations. Additionally, property investment jumped 8.5% during the first half of 2017. Retail sales gained too, adding 11% in June from 2016. In non-rural areas fixed-asset investment grew 8.6% in the first half of 2017.

In June, value-added industrial output grew by 7.6%. A proxy for economic surge, the ascend turned to be higher than the 6.5% posted in May, as the National Bureau of Statistics informed. Month-on-month, industrial productions inched up 0.81% in June, which is 0.3% higher than in May.

China's surge target for the year is approximately 6.5%, unlike the 6.7% objective for last year, which surge showed its lowest outcome for 26 years.

 

 

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