China | Growth stabilizing in Q2

China’s 2016 Q2 GDP came out today at 6.7% y/y, slightly better than expectations (BBVA MICA model forecasting: 6.6% y/y) and flat with Q1 reading. Although both industrial production and retail sales improved from the previous month, FAI remained sluggish, in particular for investment by private firms. Meanwhile, credit supply surged significantly in June.

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