China economy grew a lower than expected 6.3% in the second quarter as, post COVID recovery slowed

ZEN SOO

China’s economy grew at a 6.3% annual pace in the April-June quarter, much slower than analysts had forecast given the anemic pace of growth the year before.

Quarterly growth, the usual measure for other major economies, was 0.8%, according to government data released Monday, in line with expectations but down sharply from 2.2% in January-June.

The world’s second-largest economy is expected to slow further in coming months given weaker demand for Chinese exports in other economies as their post-pandemic recoveries lose momentum.

The 6.3% growth in China’s gross domestic product from April to June outpaced a 4.5% expansion in the previous quarter.

The still robust growth is largely due to the economy growing just 0.4% a year earlier in April-June of 2022 amid strict lockdowns in Shanghai and other cities during COVID-19 outbreaks.

Analysts had forecasted growth for the quarter that ended in June would exceed 7%. National