An employee works on the production line during a media tour at the Tianneng Battery Group Co. facility in Huzhou, Zhejiang province, China, on Wednesday, April 14, 2021. Tianneng Battery Group researches, designs and produces new energy vehicle lithium batteries and automobile start stop batteries. Photographer: Qilai Shen/Bloomberg
BEIJING: China’s economic growth slowed largely in line with economists forecasts in the second quarter, with the recovery showing signs of steadying and more balance as consumer spending picked up.
Gross domestic product expanded 7.9% from a year earlier, the National Bureau of Statistics said Thursday, down from 18.3% in the previous quarter and compared with a median forecast of 8% in a Bloomberg survey of economists. On a two-year average growth basis, which strips out the effect of last year’s pandemic, the economy grew 5.5% last quarter, higher than 5% in the previous three months.
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