Commodities
Most Metals Drop as Chinese Growth Data Indicates Weak Demand
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Most base metals dropped on further signs of soft Chinese demand, following disappointing growth data.
Asia’s largest economy grew 4.7% in the second quarter from a year earlier, the slowest pace in five quarters, falling short of the median estimate of 5.1% in a Bloomberg survey of economists. The miss in Chinese GDP puts pressure on Beijing to take steps to boost confidence ahead of the third plenum, where policymakers will discuss the long-term economic direction.