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Financial News: China GDP Expands 7.9% On Year In Q2

China GDP Expands 7.9% On Year In Q2

07/14/2021 - 22:06:00 (RTTNews)

(RTTNews) - China's gross domestic product was up 7.9 percent on year in the second quarter of 2021, the National Bureau of Statistics said on Thursday = shy of expectations for a gain of 8.1 percent and down sharply from 18.3 percent in the three months prior.

On a quarterly basis, GDP gained 1.3 percent - beating forecasts for 1.2 percent and up from 0.6 percent in the previous three months.

The bureau also said that industrial production climbed 8.3 percent on year in June, exceeding expectations for 7.8 percent and down from 8.8 percent in May.

Fixed asset investment jumped an annual 12.6 percent, also beating forecasts for 12.1 percent and slowing from 15.4 percent in the previous month.

Retail sales expanded 12.1 percent on year, beating expectations for 11.0 percent after rising 12.4 percent in May.

The jobless rate held steady at 5.0 percent.

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