indexes were by far the worst performers in Asia, down over 1% each after data showed that economic growth slowed in the second quarter. rose 0.8% in the second quarter from the first. The reading was higher than expectations for growth of 0.5%, but substantially weaker than the 2.2% jump recorded in the first quarter.missed expectations, growing 6.5% against expectations of 7.3%.
Monday's data showed that an economic recovery in Asia’s largest economy was running out of steam, and that the government will likely need to roll out more stimulus measures in the coming months. But bets on more interest rate cuts in the country were also dented, as the People’s Bank of China kept its medium-term lending rates steady on Monday. The move indicates that the PBOC will also hold its benchmarkWeakness in China bodes poorly for other Asian economies, given their dependence on the country as a trading hub. South Korea’s
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FXStreetNews - 🏆 14. / 72 Read more »