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China's economic growth slows to 0.4% in Q2

Yahoo Finance Live anchors discuss China’s second-quarter GDP data.

Video Transcript

- I want to mention too, we didn't just get the economic data out here in the US. We got China GDP out overnight also, and that was the weakest in more than two years. It rose only 4/10 of 1%. We got, as you can see, retail sales and industrial production as well. And both of those numbers also came in a little bit worse than expected, or the overall picture certainly worse than expected.

And if you look at what China's economy did quarter over quarter, it actually shrank 2.6%. Of course, that 0.4% is the annual pace for Chinese economic growth. And the China forecast for the full year economic growth, most analysts and economists are saying they're not necessarily going to meet some of those forecasts. But there seems to be less concern about this number perhaps than their-- A, we kind of knew about it. B, the economy has largely reopened as well. And even some of the shutdowns that are happening now are a little more targeted and limited.

- You do have to I think wonder what this means to policy over in China. Goldman Sachs's team out with an interesting little nugget in their take or assessment of this China GDP data. They say, quote, "We maintain our view that fiscal and credit easing may play a more important role in coming months." That might be stimulative to the markets.

- Yeah, well, we'll see if it ends up being so at the end of the day.