China’s GDP growth slowed to 0.8% qoq in Q2‎

Data showed today, Monday, that the Chinese economy grew at a slight rate in the second quarter of the year, but the annual pace seemed to be better off due to the effect of the base year, at a time when the general momentum was rapidly declining due to weak demand at home and abroad.

According to “Reuters”, data from the National Bureau of Statistics showed that the gross domestic product grew by only 0.8 percent in the period from April to June on a quarterly basis, compared to analysts’ expectations in a Reuters poll for an increase of 0.5 percent and compared to a growth of 2.2 percent in the previous year. first quarter.

On an annual basis, gross domestic product rose 6.3 percent in the second quarter, accelerating from 4.5 percent in the first three months of the year, but missing expectations for growth of 7.3 percent.

The annual pace is the fastest since the second quarter of 2021, but the reading is not really expressive due to the economic troubles witnessed last year due to the strict closure measures related to Covid-19 in Shanghai and other major cities.