China’s Economy Bounces Back from Pandemic Contraction
BEIJING: China’s economy returned to growth in the second quarter, rebounding more strongly than expected from a historic contraction caused by the coronavirus outbreak, official data showed Thursday.
Gross domestic product expanded a surprise 3.2% in April-June, the National Bureau of Statistics said, as workers, factories and firms cautiously returned to normality after harsh lockdowns brought the virus under control.
However, retail sales — a key indication of consumer sentiment in the world’s second-largest economy — fell short of expectations, shrinking 1.8% on-year last month. Read more…………..
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Barry Bannister Stifel Head of Institutional Equity Strategy joins the On the Move panel to discuss how COVID-19 is impacting the market.