The Chinese economy achieved growth that exceeded expectations during the second quarterly quarter of this year, but it slowed slightly compared to the first quarter, as the impact of trade tensions with the United States has increased pressure on China to boost stimulus to support growth.
The National Bureau of Statistics released early on Tuesday that GDP growth in China was 1.1% in the second quarter, on a quarterly basis, compared to the previous quarter, while it was expected that China's economy would grow by about 0.9% in the second quarter, after recording higher growth in the first quarter of 1.2%.
On an annual basis, China's GDP growth has slowed to witness growth of 5.2% during the second three months of the year, which is lower than the previous reading that showed economic growth of 5.4%. Expectations suggested that China's economy would grow by around 5.1% only.
These data could have a wide impact on currency markets due to China's influence - the second-largest economy in the world - on the global economy and investor sentiment, as this variable is a measure of economic activity and a critical indicator of economic health.
