China's annual growth slowed to 7.5 percent in the second quarter of 2013 from 7.7 percent in the first three months of 2013 as key growth drivers continued to lose momentum towards the end of the quarter.
Recent data updates for June have shown that industrial output came in below expectations with 8.9% yoy growth, following a 3.1 percent drop in exports and 0.8 percent decline in imports. Fixed-asset investment expansion slowed to 20.1 percent yoy. Yet, retail sales were better than expected, climbing to 13.3 percent yoy.
In the first half of 2013, GDP grew 7.6 percent yoy with net exports contributing 0.1 percent, investment 4.1 percent and consumption 3.4 percent.
Quarter on quarter, GDP expanded 1.7 percent, according to National Bureau of Statistics data.
7/15/2013 7:03:52 AM