Stranagor
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China's Economy Gets Back to Growth in Second Quarter
TANG SHIHUA
DATE: 6 HOURS AGO
/ SOURCE: YICAI
China's Economy Gets Back to Growth in Second Quarter
(Yicai Global) July 16 -- China’s economy started growing again in the second quarter, recovering from a steep dive in the first three months of the year at the hands of the coronavirus.
Gross domestic product expanded 3.2 percent in the quarter ended June from a year earlier, data from the National Bureau of Statistics showed today. That beat an average forecast for 2.37 percent made by 26 chief economists at major Chinese financial institutions surveyed by Yicai Global.
The world's second-largest economy had contracted 6.8 percent in January to March, the first quarterly contraction since China began reporting quarterly GDP in 1992, as economic activity was curtailed by measures to prevent the spread of the virus. GDP had expanded 6.2 percent in the first quarter of 2019.
But the return to growth failed to lift mainland stocks today, with key market indexes all sharply down. Equities have pared gains in recent days after a stellar rally since late June.
For the first half of this year, China’s GDP fell 1.6 percent to CNY45.66 trillion (USD6.52 trillion), according to NBS data.
https://www.yicaiglobal.com
TANG SHIHUA
DATE: 6 HOURS AGO
/ SOURCE: YICAI
China's Economy Gets Back to Growth in Second Quarter
(Yicai Global) July 16 -- China’s economy started growing again in the second quarter, recovering from a steep dive in the first three months of the year at the hands of the coronavirus.
Gross domestic product expanded 3.2 percent in the quarter ended June from a year earlier, data from the National Bureau of Statistics showed today. That beat an average forecast for 2.37 percent made by 26 chief economists at major Chinese financial institutions surveyed by Yicai Global.
The world's second-largest economy had contracted 6.8 percent in January to March, the first quarterly contraction since China began reporting quarterly GDP in 1992, as economic activity was curtailed by measures to prevent the spread of the virus. GDP had expanded 6.2 percent in the first quarter of 2019.
But the return to growth failed to lift mainland stocks today, with key market indexes all sharply down. Equities have pared gains in recent days after a stellar rally since late June.
For the first half of this year, China’s GDP fell 1.6 percent to CNY45.66 trillion (USD6.52 trillion), according to NBS data.
https://www.yicaiglobal.com
