China GDP grows faster than expected, retail sales fall

(Sharecast News) - China's economy grew at faster-than-expected in the second quarter, according to official data published on Tuesday, despite pressure from US tariffs. GDP expanded by 5.2% in the three months to June, the National Bureau of Statistics said, beating estimates of a 5.1%, but slower than the first-quarter's 5.4%.

Growth was boosted by a 6.4% expansion in manufacturing, with higher demand for 3D printing devices, electric vehicles and industrial robots.

Meanwhile June retail sales growth slowed to 4.8% year on year, compared with a 6.4% yearly increase in May and forecasts of 5.4%.

Industrial output expanded by 6.8% from a year ago compared with median estimates of 5.7%.

Reporting by Frank Prenesti for Sharecast.com