China's second-quarter economic growth likely slowed to its weakest pace in...
BEIJING - China’s second-quarter economic growth likely slowed to its weakest pace in at least 27 years, a Reuters poll showed, as demand at home and abroad weakened amid a bruising trade war with the United States.
Analysts polled by Reuters expect China to report gross domestic product grew 6.2% in the April-June quarter from a year earlier, the slowest pace since the first quarter of 1992, the earliest quarterly data on record. “The economy still faces downward pressure and domestic demand is insufficient, so we need policy steps to boost aggregate demand,” said Lian Ping, chief economist at Bank of Communications.
Barring a GDP surprise, investors are likely to focus more on the June activity data for clues on whether the economy continued to weaken heading into the second half or is bottoming out. June retail sales are seen growing 8.3% from a year earlier, slowing from the 8.6 percent pace in May. Economists in the latest Reuters poll forecast two more RRR cuts of 50 basis points each in this quarter and the last quarter, but did not expect a cut in the benchmark lending rate.
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