China’s economy grew slower than expected in the second quarter, with consumer spending easing notably in June, sounding more alarm bells about the recovery.
Gross domestic product expanded 6.3% in the second quarter from a year prior, data released by the National Bureau of Statistics showed Monday, weaker than the median forecast of 7.1% by economists surveyed by Bloomberg. The figures were distorted by a low base of comparison last year when Shanghai and other places were in lockdown.
Compared to the first quarter, GDP growth slowed to 0.8% from 2.2% in the first three months of the year.
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