Quick Data Update: Q2 GDP grew at 7%, driven by a strong service sector.

Q2 GDP grew well above expectations at 7% as June economic activity surged.  Growth was primarily driven by the service sector, which grew at 8.4%.  The industrial sector continues to weaken, slowing to 6.1% over the quarter.

The good news: Overall GDP growth was strong.  The bad news: For commodity exporters, or those worried about the fundamental pass through to other economies, the GDP might as well have been 6.1%.  The industrial sector has slowed dramatically to that pace.



Q2 2015 GDP Breakdown by Sector

China Real GDP YoY Percent Change

Q2 GDP Growth by Sector