Second quarter GDP data from China

For the y/y, 6.7% BEAT

  • expected 6.6% and prior 6.7%

For the q/q (sa), 1.8% BEAT

  • expected 1.6%, prior 1.2%, revised from 1.1%

Hey! A big h/t from Chinese Premier Li Keqiang. its amazing what you hear when listening!

Earlier:

Premier Li Keqiang

  • He spoke on Wednesday to a European Union-China summit
  • Said China's economy is "basically stable"
  • That it is on course to meet its major targets this year
  • And that Q2 GDP is likely to be close to the 6.7% recorded for Q1