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China April-June GDP rises 9.5% from year-earlier

China April-June GDP rises 9.5% from year-earlier (by V. Phani Kumar)

HONG KONG (MarketWatch) -- China's gross domestic product expanded at a faster-than-expected rate of 9.5% in the April-June quarter from the year-ago period, signaling the economy was growing at a rapid clip despite several monetary tightening measures. The growth rate was higher than the 9.4% anticipated in a survey of economists by Dow Jones Newswires, although it was weaker than the 9.7% increase in the three-month period ended March 31. Data simultaneously released also showed June industrial production improved 15.1%, trouncing expectations for a 13.7% increase, while monthly retail sales jumped 17.7%, topping FactSet Research estimates for a 17% rise.