China second-quarter GDP edges up
The Chinese economy expanded a bit faster than expected during the second quarter, but private investment growth slumped to a record minimum, suggesting future weakness, that could force the government to rely on more radical measures.
Property investment, that has provided the world’s number two economy with a welcome boost for recent months by driving demand for products from steel to cement, also demonstrated evident signs of fatigue in June with growth slowing for a second month.
While fears of a hard landing have relieved, market participants worry that a further slowdown in China as well as any major fallout from Brexit would leave the financial world even more vulnerable to the risk of a global downtime.
The Chinese economy edged up 6.7% during the second quarter from a year-ago, staying intact from the first quarter, but still demonstrating the slowest tempo since the global financial meltdown. That’s what Friday’s data revealed. Financial experts had expected it to go down to 6.6%.