China’s GDP Rebounds in Q2

Official data released early in the morning showed that the Chinese economy witnessed a boom in the processes of reopening the economy and expanding in the post-Covid-19 period in Q2 with the expansion of the country’s manufacturing sector.

Q1 annual GDP came in at + 3.2%, exceeding analyst expectations at + 2.1%, up from the previous quarter of -6.8%.

Inter-quarter, China’s GDP arrived at + 11.5% in Q2 vs. + 9.6% expected and -9.8% previous.

As for retail sales for June, it came at -1.8% vs. + 0.3% expected and -2.8% previous and industrial output on an annual basis at + 4.8% vs. + 4.4% expected and + 4.4% previous.