China’s economic growth slows to 7.9% 15/07/2021, 5:02 am
The Yangshan container port in Shanghai. China’s economic growth slowed to a still-robust 7.9% in the three months ending in June (Chinatopix/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 levelled off.
Growth slowed from the previous quarter’s explosive 18.3% expansion, which was magnified by comparison with early 2020, when the economy shut down to fight the coronavirus.
The economy expanded at a 1.3% pace in the April-June quarter compared with the previous three months, the way other major economies report results.
Update: China s surveyed urban unemployment rate drops in June
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China s economic recovery loses some steam
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Beijing: China’s economic growth slowed in the second quarter, official data showed Thursday, with consumers remaining hesitant to splurge and firms grappling with the increased cost of raw materials.
The world’s second-largest economy has staged a rapid recovery from last year’s slump caused by the coronavirus pandemic, but its pace is losing steam, with manufacturing activity slowing and consumer demand picking up more slowly than expected.
China’s growth in gross domestic product came in at 7.9 per cent on-year in the April to June period, said the National Bureau of Statistics a significant drop from the 18.3-per cent surge in the first three months.