China’s GDP up 7.9% after growing by 18.3% in Q1

China’s GDP grew by 7.9% in Q2 from the same period last year, after increasing by 18.3% in Q1. A high comparison base conditioned the slowdown in the second quarter.

Report informs, citing Prime, that economists expected the economic growth to slow down starting from the second quarter, and this tendency will continue until the end of the year.

After the record contraction in the first quarter of 2020 due to the pandemic, the world’s second economy recovered in the second quarter, and by the end of the last year, its growth accelerated.

The data on the GDP growth in the second quarter coincided with the forecast of the Wall Street Journal economists.

According to the National Statistics Bureau, in the second quarter, the Chinese GDP gained 1.3% compared to the first quarter after growing by 0.6% in the first quarter compared to the fourth quarter last year.

In the first six months of the year, the country’s economy grew by 12.7% compared to the same period last year.