- China GDP +7.9% y/y in Q2, vs Q1’s +18.3% (Reuters poll +8.1%)
- June industrial output +8.3% y/y, vs +8.8% in May (poll +7.8%)
- June retail sales +12.1% y/y, vs +12.4% in May (poll +11.0%)
BEIJING, July 15 (Reuters) – China’s economy grew slightly more slowly than expected in the second quarter, weighed down by higher raw material costs and new COVID-19 outbreaks, as expectations build that policymakers may have to do more to support the recovery.
Gross domestic product (GDP) expanded 7.9% in the April-June quarter from a year earlier, official data showed on Thursday, missing expectations for a rise of 8.1% in a Reuters poll of economists. read more
Growth slowed significantly from a record 18.3% expansion in the January-March period, when the year-on-year growth rate was heavily skewed by the COVID-induced slump in the first quarter of 2020.
Average second quarter growth in 2020 and 2021 was 5.5%, compared to a 5% average for the first…
