China's economy grew faster than expected in the second quarter, the latest sign that it's on course for the mythical V-shaped recovery

• China's economy grew by 3.2% in the second quarter of the year, beating Reuters economists' estimates of 2.5% growth. 
• This comes after the economy faced a sharp contraction of 6.8% in the first quarter of the year. 
• While growth in general was stronger than expected, consumer spending didn't bounce back as forecast.
• Economists had expected retail sales to rise by 0.3%, but they fell 1.8% year-on-year in June.
• As the first country to face the coronavirus, China's economic recovery is much further along than most nations in the Western world.
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China's economy grew by 3.2% in the second quarter of the year, signalling that the country may be on course for a V-shaped recovery and its darkest days from the virus may be over. 

This is higher than the growth Reuters economists were polling at 2.5%. 

See the rest of the story at Business Insider

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• These 4 economic signals suggest the COVID-19 recovery is losing steam as cases spike
• US weekly jobless claims hit 1.3 million, less than economist forecasts

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