But there are nascent signs a reacceleration seems to be taking root. (And, as Ken Fisher often says, stocks tend not to wait for data to reflect reacceleration as they tend to move ahead the economy.)
But at a broader level, whether growth quickens or stays roughly akin to the first quarter isn't what's important. What's important is an 8.1% growth rate -- or even a bit weaker -- doesn't seem much like a hard landing, and an economy the size of China's is hugely additive to global growth.
For stocks, since many investors seem to fear a sharp slowdown in China or worse, chances are an approaching reacceleration or even stabilization in Chinese growth rates could buoy global stock market returns nicely.
This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.