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Financial News: China Economic Growth Eases In Q2

China Economic Growth Eases In Q2

07/15/2022 - 01:47:00 (RTTNews)

(RTTNews) - China's economy expanded at a much slower pace in the second quarter, official data showed on Friday.

Gross domestic product grew only 0.4 percent on a yearly basis in the second quarter, following the first quarter's 4.8 percent expansion. GDP was expected to climb 1.0 percent.

In June, industrial production growth improved to 3.9 percent from 0.7 percent. But this was slower than economists' forecast of 4.1 percent.

Retail sales advanced 3.1 percent annually, reversing the 6.7 percent fall in May. Economists had forecast sales to remain flat in June.

During the January to June period, fixed asset investment logged an annual growth of 6.1 percent. Investment was forecast to climb 6.0 percent.

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