China GDP growth moderates in Q2

Slower expansion: People walking in the Lujiazui financial district during sunset in Pudong, Shanghai. China’s GDP expanded 7.9% in the April-June quarter from a year earlier. — Reuters

BEIJING: China’s economy grew slightly more slowly than expected in the second quarter, weighed down by higher raw material costs and new Covid-19 outbreaks, as expectations build that policymakers may have to do more to support the recovery.

Gross domestic product (GDP) expanded 7.9% in the April-June quarter from a year earlier, official data showed, missing expectations for a rise of 8.1% in a Reuters poll of economists.