China second-quarter GDP grows 6.7%
China's statistics bureau said that the economy still faces downward pressure, but that economic growth in the first half lays a good foundation for achieving 2016 target.
Policymakers have said the economy remains largely steady, but analysts expect more support measures in the coming months as private investment falters, forcing the government to do more of the heavy lifting
China's economy grew 6.7 percent in the second quarter from a year earlier, steady from the first quarter and slightly better than expected as the government stepped up efforts to stabilize growth in the world's second-largest economy.
Workers dry wolfberries at a yard in Linze, Ganse province, China. ReutersWorkers dry wolfberries at a yard in Linze, Ganse province, China.
Reuters Analysts polled by Reuters had predicted gross domestic product (GDP) would ease to 6.6 percent in the second quarter, which would have been the weakest since the global financial crisis, and had predicted a further loss of steam later this year.
Second quarter GDP rose 1.8 percent quarter-on-quarter, also slightly better than expected, the statistics bureau said on Friday.
Bernanke Floated Japan Perpetual Debt Idea to Abe Aide Honda
Etsuro Honda, who has emerged as a matchmaker for Abe in corralling foreign economic experts to offer policy guidance, said that during an hour-long discussion with Bernanke in April the former Federal Reserve chief warned there was a risk Japan at any time could return to deflation. He noted that helicopter money -- in which the government issues non-marketable perpetual bonds with no maturity date and the Bank of Japan directly buys them -- could work as the strongest tool to overcome deflation, according to Honda. Bernanke noted it was an option, he said.
Nice Terror Attack: France Extends State Of Emergency By 3 Months
French President Francois Hollande said today that the state of emergency in the country has been extended by three months after an attacker killed 80 people and injured several others in the city of Nice, when he drove a truck into a crowded area.
"French state of emergency has been extended for 3 months," President Hollande said during an official statement.
Oil falls on glut fears, but China data curbs losses
Crude futures dipped in Asian trading on Friday on renewed concerns about a global oil glut, but losses were capped by slightly better than expected Chinese economic data reflecting government efforts to stabilize growth.
Brent crude futures were down 51 cents at $46.86 a barrel at 0650 GMT. On Thursday, they rose 2.4 percent, supported by short covering, and were on track to be flat for the week.
U.S. West Texas Intermediate (WTI) futures were down 47 cents at $45.21 a barrel having earlier fallen to $45.05. The contract rose 2.1 percent in the previous session and is heading for a weekly gain of 0.4 percent.
Reference: Reuters,NDTV,Bloomberg,
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