China sees moderate Q2 GDP growth
China's GDP grew 1.3% in the second quarter of 2021, faster than the 0.6% growth it saw in the previous quarter, according to the National Bureau of Statistics of China.
State of play: Compared with the second quarter from last year, the country's economy grew 7.9% in the April to June period. That's less than half of the 18.3% year-over-year growth the nation saw during the first quarter of 2021, per the South China Morning Post.
- On the other hand, retail sales grew faster than expected at 12.1% year-over-year, compared with an 11% estimate by Reuters.
What they're saying: "Generally speaking, the national economy in the first half year continued to recover steadily with the sound growth momentum consolidated," the NBSC said.
- But the bureau noted that "the economic recovery is unbalanced and more efforts are needed to consolidate the foundation for the steady recovery of the development."