China : June investment growth cools to 9 pct YoY

BEIJING : China’s fixed-asset investment growth eased to 9 percent year-on-year in the January-June period, missing market expectations.

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

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

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

Retail sales rose at a faster 10.6 percent pace.

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

The statistics bureau said on Friday China’s economy expanded by 6.7 percent in the second quarter year-on-year.