Snapshot - Economic & Strategy Viewpoint
Janet Mui: weekly economic update 19 July
Chinese growth slowed in the second quarter, but there are signs that stimulus measures may be starting to help. US data, by contrast, suggests that for now the economy remains strong.
- Chinese GDP slowed to an annualized rate of 6.2% in the second quarter, the slowest pace since 1990. Activity was stronger in June, suggesting growth will stabilize in the second half of the year.
- UK wages grew at an annualized rate of 3.6% in May, the fastest pace since July 2008.
- US retail sales were strong in June, suggesting consumers remain in good shape. There was also robust data from the manufacturing sector.