China's GDP grew 7.9% in the second quarter; retail sales beat expectations

China's GDP grew 7.9% in the second quarter; retail sales beat expectations

A McDonald’s delivery worker walks past pig statues outside an art museum in Beijing on July 10, 2021.

Jade Gao | AFP | Getty Images

BEIJING — China reported second-quarter GDP growth that came in slightly below expectations, while retail sales and industrial production grew faster than forecast.

The country’s gross domestic product increased 7.9% in the second quarter from a year ago, the National Bureau of Statistics said Thursday. That fell short of Reuters’ estimate of 8.1% growth for the April to June period.

In the first quarter, GDP grew 18.3%, up from a contraction a year ago. That marked a 0.6% increase from the last quarter of 2020.

Retail sales rose 12.1% in June from a year ago, more than the expected 11% level forecast by Reuters.

Retail sales growth has lagged that of the overall economy, and missed analysts’ expectations for the first two months of the second quarter.

Industrial production grew by 8.3%, greater than the 7.8% Reuters estimate.

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