March 4, 2024



China’s GDP grew 7.9% in the second quarter; retail sales beat expectations


By Evelyn Cheng

BEIJING — China reported second-quarter GDP growth that came in slightly below expectations, while retail sales and industrial production grew faster than forecast in June.

The country’s gross domestic product increased 7.9% in the second quarter from a year ago, the National Bureau of Statistics said Thursday. That fell short of Reuters’ estimate of 8.1% growth for the April to June period.

“Overall, China’s economy looks to be on track for recovery, with the 6% annual growth goal in reach,” Chaoping Zhu, global market strategist at JPMorgan Asset Management, said in a note.

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