FTSE 100 LIVE: China’s economy rebounds but investors continue to hold off

FTSE 100 LIVE: China’s economy rebounds but investors continue to hold off

The gross domestic product (GDP) data, as well as key June indicators, will be closely scrutinized around the world as many countries continue to grapple with the COVID-19 pandemic. To much surprise, even China has begun to restart its economy as they appear to be containing the outbreak.

GDP rose 3.2% in the second-quarter from a year earlier, the National Bureau of Statistics said on Thursday, faster than the 2.5% forecast by analysts in a Reuters poll, as lockdown measures ended and policymakers ramped up stimulus to combat the pandemic-led downturn. The bounce was still the weakest expansion on record, and followed a steep 6.8% slump in the first quarter, the first such contraction since at least 1992 when quarterly gross domestic product (GDP) records began.

FOLLOW OUR LATEST UPDATES HERE:

Published at Thu, 16 Jul 2020 05:49:00 +0000