CHINA-ECONOMY
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China's National Bureau of Statistics declared on July 16, that China's second-quarter gross domestic product grew 7.5% from a year earlier, compared with 7.4% growth in the first quarter, which was the slowest pace in 18 months. GDP growth was greater than a median 7.4% gain forecast separately by 21 economists in a Wall Street Journal survey. China's growth accelerated slightly in the second quarter and modestly exceeded analysts' expectations, an indication that Beijing is having some success with its strategy of selective spending and credit-easing to boost the world's second-largest economy. Stronger fixed-asset investment and industrial output in the June data provided further evidence that Beijing's efforts have put a floor under declining growth.
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