China’s economic growth accelerates to 6.3% in Q2, but still misses forecasts

The Chinese economy grew 6.3% from a year earlier in the second quarter of the year, quickening from the pace set in the first quarter thanks to a low base from the comparative period when the economy was hit by COVID-19 and lockdowns.

The result, which was higher than the 4.5% on-year growth recorded in the first quarter, undershot the 6.9% economic growth expected by economists polled by The Wall Street Journal.

China’s gross domestic product rose 0.8% in the April-June period when compared with the first three months of the year, slowing from the 2.2% on-quarter growth recorded in the first quarter.

For the first half of the year, GDP expanded 5.5% from a year earlier, above Beijing’s annual growth target of around 5.0%.

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