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China’s Economy Expanded 6.9% in Second Quarter
China’s economy expanded at an annualized 6.9% in April-June compared with the same quarter in 2016, the National Bureau of Statistics reports.
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China’s economy expanded at an annualized 6.9% in April-June compared with the same quarter in 2016, the National Bureau of Statistics reports. Gross domestic product rose by the same percentage in the first quarter.
Beijing previously announced a full-year growth target of 6.5% for 2017. Many economists have predicted even that rate will be difficult to achieve because of the chilling effect of new government policies to reduce debt and impose more restrictive rules on lenders.
China’s economy expanded by 6.7% last year, its weakest gain in 26 years. But retail spending rose to 11% last month from 10.5% in May. And industrial output surged to 7.6% compared with an expected 6.5%.
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