Steady As She Goes For Chinese Economy

Steady As She Goes For Chinese Economy

Steady As She Goes For Chinese Economy

Chinese growth held steady in the second quarter. Stimulus measures and increased lending helped the economy to contain any further slowdown.

GDP expanded 6.7 percent year-on-year in the second quarter, the same rate as seen in the prior period, the National Bureau of Statistics reported Friday.

Growth was slightly better than the 6.6 percent growth expected by economists and within the government's full year target of 6.5-7 percent. Whereas in 2015, the economy grew at the slowest pace in 25 years.

Elsewhere, Germany's manufacturing employment increased in May, provisional results from Destatis showed Friday.

Manufacturing employment increased 0.9 percent or about 49,000 in May from the prior year. Nearly 5.4 million people worked in local units of manufacturing. The EUE/USD has seen some solid support over the last few days and may see further strength in the weeks and months ahead.

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