China Q2 GDP growth comes in at 7.5%, matching
expectations; industrial output rises 8.9% in June versus 9.2% in May.
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China's economy grew 7.5% in the second quarter compared to a year
earlier, while industrial production for June rose 8.9% from year-ago
levels, slowing from May's 9.2% growth, the National Bureau of
Statistics said Monday. The gross domestic product result was down from
the first quarter's 7.7% advance, but matched projections from separate
Dow Jones Newswires and Reuters surveys of economists. However, the
industrial output missed the Reuters projection for a 9.1% gain. June
retail sales rose 13.3% on an annual basis, beating May's 12.9% gain.
Urban fixed-asset investment -- watched as an indicator of construction
spending -- grew an average 20.1% in the January-June period, just short
of Reuters' 20.2% projection and down from 20.4% in January-May.
Fixed-asset investment is reported on a year-to-date basis. Hong Kong
stocks saw a brief spike after the data, with the Hang Seng Index
HK:HSI
+0.26%
rising 0.3% but then easing to the flat line, after having traded 0.2%
lower just ahead of the numbers. The Shanghai Composite Index
CN:SHCOMP
+0.71%
sat 0.2% after the number, off its pre-data gain of 0.3%. The Australian dollar
AUDUSD
+0.27%
-- often sensitive to the economic outlook in China, Australia's top
trading partner -- slipped to 90.86 U.S. cents from 90.94 cents, but
Sydney's benchmark S&P/ASX 200
AU:XJO
+0.36%
swung to fractional gain compared to a 0.2% loss before the data release.
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http://daytradingstock-blog.blogspot.com/
