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China’s economic growth surpasses expectations in Q2

by ChemOrbis Editorial Team -
  • 15/07/2015 (11:29)
According to data released by China’s National Bureau of Statistics (NBS), the country’s economy grew at a higher rate than expected in the second quarter of this year. China’s gross domestic product (GDP) rose 7% on the year in the April-June period, matching the growth rate of the previous quarter. According to a survey conducted by the Wall Street Journal, economists’ initial expectations had called for a growth rate of 6.8%. Meanwhile, the growth rate in the second quarter also matched the government’s 2015 economic growth target of 7%.

In the second quarter, China’s industrial production rose 6.3% on a yearly basis after rising 6.4% in the previous quarter while growth in fixed asset investment dropped to 11.4 % on the year from 13.5% in the first quarter. Retail sales growth declined to 10.4% year over year from 10.6% in the first quarter.
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