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China’s GDP Growth Dips to 6.2% in Second Quarter

By Liu Jiefei / Jul 15, 2019 10:41 AM / Economy



China’s economy grew 6.2% year-on-year in the second quarter this year, down from 6.4% growth in the first quarter, official data showed Monday.

The growth rate met the median forecast of a 6.2% gain for the period by economists polled by Bloomberg.

In the first half of this year, China’s economy grew 6.3% year-on-year, according to data from the National Bureau of Statistics (NBS).

Fixed-asset investment, a key driver of domestic demand that includes infrastructure investment, increased 5.8% year-on-year in the first half of this year, NBS data showed. The reading was up slightly from 5.6% growth in the first five months.

Government-driven infrastructure investment rose 4.1% in the first half of this year, up from 4% growth in the first five months.

Value-added industrial output, which measures production at factories, mines and utilities, rose 6.3% year-on-year in June, up from 5% growth in the previous month.

Retail sales, which include spending by governments, businesses and households, grew 9.8% in June, up significantly from 8.6% growth in the month before. The reading marked the highest since March 2018.

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