HITTING THE TARGET

China says its quarterly GDP growth is—surprise!—right on track at 6.7%

Obsession
China's Transition
Obsession
China's Transition

China’s growth looks surprisingly good, as it usually does. The nation’s GDP rose 6.7% in the second quarter from the same period last year, beating a market estimate of 6.6%.

The National Bureau of Statistics released the figure (link in Chinese) today (July 15). The number remained unchanged from the 6.7% recorded in the first quarter—the slowest growth since 2009—and is in line with the government’s target of no lower than 6.5% for the full year.

June saw a jump in both retail sales (up 10.6% from a year ago) and industrial production (up 6.2%), beating market expectations in each case.

The figure suggests China’s economy is steady for now, thanks to Beijing’s aggressive stimulus measures (paywall).

Of course, China’s official GDP data is notoriously questionable. Some economists argue the real rate of expansion could be much lower (paywall).

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