China Stats spokesperson says demand not sufficient

ICYMI, China’s poor Q2 GDP data is here:

• China June Industrial output +5.3% y/y (expected +5.0%) Retail sales +2.0% (3.3%% exp)

The economic growth data missed both q/q and y/y.

NBS spokesperson:

• 5% GDP growth in h1 ‘hard won’
• Businesses face
  relatively big pressures and key sectors face many risks since this
  year
• China’s economy
  remains key growth engine for the world economy
• Q2 economic growth
  affected by short-term factors such as extreme weather, flooding
• China’s economy
  medium- to long-term improving trend remains unchanged
• China’s economy
  faces increasing external uncertainties and many domestic
  difficulties and challenges in h2
• Property market
  still in process of adjustments

This article was written by Eamonn Sheridan at www.forexlive.com.