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China: Economy grows 7% in second quarter, beats expectations

  • Beating expectations, the Chinese economy expanded by 7% in the second quarter compared to a year ago, but it was still the weakest growth since the 2008-09 global financial crisis.

    The growth in the April to June quarter matched the first quarter growth in the world’s second largest economy. The expected growth for the second quarter was 6.9%.

    In recent years, China’s growth has been hit by weaker manufacturing and cooling property markets.

     

     

    Tagged as: Chinese economy, China growth, China second quarter, global financial crisis, manufacturing, property, business news