15 July 2016 at 5:10 GMT
China’s economy stabilised as lending and consumer spending perked up late in the June quarter, suggesting the world’s second-largest economy is responding to stepped up government support. Gross domestic product rose 6.7% in the second quarter from a year earlier, compared with 6.6% seen by economists Bloomberg surveyed and in line with the government’s growth target of at least 6.5% for the full year. Industrial output and retail data for June beat estimates, investment slowed, and a separate report from the central bank showed the broadest measure of new lending beat all 29 analyst forecasts.
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