7/15/2019, 4:01 AM (Source: TeleTrader)
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China's Q2 GDP growth slows down to 6.2% YoY

China's gross domestic product (GDP) in the second quarter of 2019 increased by 6.2% on an annual basis, the country's National Bureau of Statistics said. This marks a 0.2% decrease compared to the previous quarter and represents the worst result in the past 27 years.

On the other hand, this figure is in line with market expectations and the forecasts of Beijing's targeted growth rate for this year. The value added of the primary industry grew by 3% on an annual basis, the secondary industry added 5.8% compared to 2018, while the tertiary increased by 7% year-over-year.

"Generally speaking, the national economy in the first half performed within the reasonable range and has sustained the momentum of progress in overall stability. However, we should also be aware that the economic conditions are still severe both at home and abroad, the global economic growth is slowing down, the external instabilities and uncertainties are increasing, the unbalanced and inadequate development at home is still acute, and the economy is under new downward pressure," the press release concluded.

Breaking the News / MA