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China’s Q2 GDP growth slows to 3-year low

India Infoline News Service/ 18:16 , Jul 13, 2012

GDP eased to 7.6% in the April to June period, down from an 8.1% expansion in the first quarter but matched expectations of economists.

China’s economy moderated for a six straight quarter in the three months ended June, with GDP touching its weakest in more than three years in the second quarter.


GDP eased to 7.6% in the April to June period, down from an 8.1% expansion in the first quarter but matched expectations of economists.


The growth rate was the weakest since the first quarter of 2009.


For the January-to-June period, the world's second largest economy grew by 7.8%, compared to 9.6% in the same period a year earlier.


In other economic data released today by the National Bureau of Statistics, industrial production was slightly weaker, expanding by 9.5% in June, compared to May’s 9.6% expansion.


Fixed-asset investment growth in the urban areas accelerated to 20.4% in the first half, picking up from 20.1% in the first five months of the year.


The result was slightly ahead of expectations for a 20% expansion.


China's retail sales growth decelerated.


Retail sales grew by 13.7% last month from a year earlier, compared with the 13.4% median forecast of economists.


Data earlier this week showed that imports rose less than estimated in June while export growth slowed and new yuan loans topped predictions.

 



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