Cent and Growth

china: Key points:China growth of 6.7pc is within Government 6.5-6.7pc target Industrial production and retail sales beat forecasts'Anecdotal evidence of an uptick in domestic tourism, IT and communications': NAB The figures released by the National Bureau of Statistics mirror the first quarter result, according to Australian Broadcasting Corporation. They are also ahead of a consensus expectation of 6.6 per cent growth and within the official 6.5 to 7 per cent target band set earlier this year. Map: China In the face of deteriorating conditions, China economy has defied expectations of a slowdown with GDP growth for the June quarter holding steady at 6.7 per cent. Seasonally adjusted, the economy grew at 1.8 per cent for the quarter. Analysts had speculated - with the strong property-led recovery in the first three months of the year having dissipated and industrial production, private investment and trade data all disappointing - that the economy was likely to slow. The better-than-expected result supported solid gains on regional stock markets and pushed up commodity-based currencies, with the Australian dollar trading close to 77 US cents after the release. (news.financializer.com). As reported in the news.