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Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
#China grew 3.2% in Q2 YoY, recovering from record 6.8% contraction in Q1. Has avoided recession. But debt problems piling up. In H1 2020, lenders issued record $1.7tn in fresh loans. In past, China outgrew bad debts, but that’s unlikely to work this time. https://t.co/0gAjobxdY5 pic.twitter.com/mJgqyLbvfB
“We are confident on the economic recovery in the second half of this year,”
China GDP grew +3.2% in Q2 (April-June) after contracting by -6.8% in Q1, avoiding a recession. Driven by industrial production +4.8% in June, +4.4% in May. But retail sales -1.8% in June, -2.8% in May. Fixed asset investment -3.1% in Jan-June. https://t.co/sww2iz8wsW