(National Bureau of Statistics of China) China registered a 7.9% growth in the gross domestic product in the second quarter from a year ago, a decline from the 18.3% jump in the first quarter.
The second quarter growth was similar to analysts’ expectations as the economy continued to demonstrate less resilience compared to the first quarter.
Factories had a better-than-expected output growth in the quarter, raising optimism of sustained domestic spending that could fuel the economy.
Overall, China’s economy expanded by 12.7% for the first half of the year compared to the same period of last year.
With 12.7% growth in the first half, China is on course to hit the full year target of at least 6%, with analysts projecting a higher expansion of about 8%.
China’s unemployment rate in June was unchanged at 5.0% from the May level.
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