China GDP (Q2), Activity & Spending (Jun.)

China’s GDP growth dropped back in y/y terms last quarter as the base for comparison became less flattering. In q/q terms, output rose at a slightly faster pace than in Q1, when a flare-up in virus cases weighed on services activity. But sequential growth remained more subdued than over most of the past few years and momentum is likely to remain weak during the second half of this year.

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