China's GDP likely expanded 2-3% in Q2
High-frequency data such as industrial power consumption and raw steel production are pointing to a stronger June industrial performance that could result in the Chinese economy returning to positive territory with a growth rate of 2-3 percent in the second quarter, Chinese analysts said Wednesday.
China is due to release economic numbers for the second quarter and the first half Thursday, after posting better-than-expected export data Tuesday.
Recently released figures for power generation, raw steel output, excavator sales, railway cargo and express deliveries all pointed to active growth, prompting a report by financial news site yicai.com, which said that a positive figure for second-quarter GDP is "a large probability event."
China's average daily raw steel output in mid-June was 2.14 million tons, up 3.73 percent year-on-year and the highest in 10 years.
