Construction workers work amid sections of rebar at a construction site in the central business district in Beijing, Tuesday, June 13, 2023. China's economy grew at a 6.3 per cent annual pace in the April-June quarter, much lower than analysts had forecast given the slow pace of growth the year before.
The 6.3 per cent growth in China's gross domestic product from April to June outpaced a 4.5 per cent rate of growth in the previous quarter, according to government data released Monday.The still robust growth is largely due to the economy growing just 0.4 per cent a year earlier amid strict lockdowns in Shanghai and other cities during major outbreaks of COVID-19.China's GDP in the first quarter beat expectations and grew by 4.
Data released earlier showed exports declined 12.4 per cent in June from a year earlier as global demand faltered after central banks in U.S. and Europe raised interest rates to curb inflation. Industrial production output, which measures activity in the manufacturing, mining and utilities sectors, beat analyst's expectations, rising by 4.4 per cent in June compared to the same month a year earlier.
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