China Q2 GDP growth 7.6%, lowest in 3 years

China's statistics agency says the country's economy grew 7.6 percent in the second quarter, the lowest pace since the third quarter of 2009. Analysts say the lower-than-expected economic growth was mainly due to gloomy domestic manufacturing activities and volatilities in external markets.


According to the figures released by China’s National Bureau of Statistics, China’s economy expanded by 7.6 percent year-on-year in the second quarter, slowing from 8.1 percent in the first quarter. That is the slowest growth since March 2009, when the heavy impact of the global financial crisis was felt around the world. The spokesman of the statistics bureau said that China has full confidence to meet its full-year growth target of 7.5 percent.

Sheng Laiyun, Spokesman of National Bureau of Statistics, said, "According to preliminary data, in the first half of this year, GDP was 22.7 trillion yuan, rising by 7.8 percent. In the first quarter it grew by 8.1 percent and in the second quarter by 7.6 percent. "