China’s economic rebound slowed in the second quarter but continued to show unusual resilience more than a year after the country largely got control of the coronavirus within its borders, reported the Wall Street Journal.
China’s factories delivered another stronger-than-expected quarter of output while its consumers beat lowered expectations, raising hopes that domestic spending might play a greater role in sustaining momentum in the coming months.
China’s government said Thursday that gross domestic product grew by 7.9% in the second quarter from a year earlier, in line with economists’ expectations.
The second-quarter growth figure helped power China’s economy to a 12.7% expansion for the first half of the year compared with the pandemic-scarred first six months of 2020.
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