China's economy grew an annual 7% in the second quarter, steady with the previous quarter and slightly better than analysts' forecasts, though further stimulus is still expected after the quarter ended with a stock market crash.
It has been a difficult year for the world's second largest economy. Slowing growth in trade, investment and domestic demand has been compounded by a cooling property sector, deflationary pressure, and most recently a stock market crash, so the recent sequence of data releases showing signs of improvement may help buttress faltering confidence in the effectiveness of prior policy support measures.
Analysts polled by Reuters had forecast gross domestic product (GDP) in the world's second largest economy would grow 6.9% in April-June from a year earlier, compared with 7% in the March quarter.
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It has been a difficult year for the world's second largest economy. Slowing growth in trade, investment and domestic demand has been compounded by a cooling property sector, deflationary pressure, and most recently a stock market crash, so the recent sequence of data releases showing signs of improvement may help buttress faltering confidence in the effectiveness of prior policy support measures.
Analysts polled by Reuters had forecast gross domestic product (GDP) in the world's second largest economy would grow 6.9% in April-June from a year earlier, compared with 7% in the March quarter.
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