BEIJING (AP) China’s economic growth slowed to a still-strong 7.9% over a year earlier in the three months ending in June as a rebound from the coronavirus leveled off.
As expected, the growth reported Thursday fell from the previous quarter’s explosive 18.3%, which was magnified by comparison with early 2020, when the world’s second-largest economy closed factories, stores and offices to fight the coronavirus. China led a global recovery after the ruling Communist Party declared the disease under control last March and reopened most industries.
The United States and other major economies are bouncing back, but some are hampered by the spread of new virus variants. The rapid U.S. recovery has led the Federal Reserve to suggest it might start unwinding its stimulus earlier than planned, late next year instead of in 2023.
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China s economic growth slows to still-robust 7.9%
JOE McDONALD, AP Business Writer
July 15, 2021
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1of14Workers sort out parcels for delivery in Beijing Wednesday, July 14, 2021. China s economic growth slowed to a still-strong 7.9% over a year ago in the three months ending in June as a rebound from the coronavirus leveled off.Ng Han Guan/APShow MoreShow Less
2of14Residents pass by an elderly woman collecting recyclables at the Wangfujing retail street in Beijing Wednesday, July 14, 2021. China s economic growth slowed to a still-strong 7.9% over a year ago in the three months ending in June as a rebound from the coronavirus leveled off.Ng Han Guan/APShow MoreShow Less