China June investment growth cools to 9% year-on-year, missing forecasts

[BEIJING] China's fixed-asset investment growth eased to 9 per cent year-on-year in the January-June period, missing market expectations.

Analysts polled by Reuters predicted investment growth would come in at 9.4 per cent, compared with 9.6 per cent in the prior month.

Private sector fixed-asset investment growth slowed to 2.8 per cent in January-June, compared with 3.9 per cent growth in the first five months of the year.

Industrial output growth quickened to 6.2 per cent in June, the National Bureau of Statistics said on Friday, beating forecasts of a 5.9 per cent rise on an annual basis. Output increased 6 per cent in the prior month.

Retail sales rose at a faster 10.6 per cent pace.

Analysts had forecast they would rise 10 per cent on an annual basis after similar 10 per cent increase the prior month.

The statistics bureau said on Friday China's economy expanded by 6.7 per cent in the second quarter year-on-year.

REUTERS