China growth rate slows again
China’s growth rate slowed for a sixth successive quarter to its slackest pace in more than three years, highlighting the need for more policy vigilance from Beijing even as signs emerge that action taken so far is beginning to stabilise the economy.
Year-on-year growth of 7.6 per cent in the second quarter was a whisker above the government’s official 7.5 per cent full year target and dragged the first half average down to 7.8 per cent – below the 8 percent level that in previous downturns has triggered a robust response from policymakers.
The GDP number, released in a flurry of Chinese data, was roughly in line with investor expectations.