China s economy grows more slowly than expected in second quarter
07/15/2021 2:09
BEIJING (Reuters) - China s economy grew more slowly than expected in the second quarter, official data showed on Thursday, as higher raw material costs hurt factory activity and new COVID-19 outbreaks curbed consumer spending.
Gross domestic product (GDP) expanded 7.9% in the April-June quarter from a year earlier, compared with expectations for a rise of 8.1% in a Reuters poll of economists.
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.
While the world s second-largest economy has rebounded strongly from the COVID-19 crisis, data releases in recent months have pointed to some loss of momentum. Investors are watching to see if the central bank is shifting to an easier policy stance after it announced last week it would cut the amount of cash th
1 2021-07-15 10:11:06Xinhua
Editor : Zhang Dongfang
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China s gross domestic product (GDP) expanded 12.7 percent year on year in the first half of 2021 as recovery continues to firm, data from the National Bureau of Statistics (NBS) showed Thursday.
The figure puts average H1 growth for the past two years at 5.3 percent, 0.3 percentage points faster than the two-year average of Q1 growth from the 2019 level, according to the NBS.
In the second quarter, the country s GDP grew 7.9 percent year on year, the data showed. On a quarterly basis, the economy expanded 1.3 percent in Q2.
Other major economic indicators showed continued improvements across the board, with industrial output rising 15.9 percent and retail sales up 23 percent year on year in the first half.
Publishing date: Jul 14, 2021 • 2 hours ago • 2 minute read •
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BEIJING China’s economic growth more than halved in the second quarter from a record expansion in the first three months of the year, as slowing manufacturing activity, higher raw material costs and new COVID-19 outbreaks weighed on the recovery momentum.
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.
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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.
That reflects a return to normal for factory activity and consumer spending as government stimulus and easy credit wind down.
It was faster than the 0.6% expansion in the previous quarter over the final three months of 2020, which had prompted warnings the rebound was ending.
2021-07-15 03:01:12 GMT2021-07-15 11:01:12(Beijing Time)
BEIJING, July 15 (Xinhua) China continued to see a generally stable housing market in June, with home prices in 70 major cities showing slight month-on-month increases, official data showed Thursday.
New home prices in four first-tier cities Beijing, Shanghai, Shenzhen and Guangzhou rose 0.7 percent month on month in June, according to data from the National Bureau of Statistics.
The growth rate was flat with the expansion seen in May. Prices of second-hand homes in the four cities gained 0.7 percent last month, up 0.1 percentage points from the growth in May.
A total of 31 second-tier cities saw a month-on-month increase of 0.5 percent in new home prices, while 35 third-tier cities witnessed a month-on-month rise of 0.3 percent in new home prices last month.