China's Q2 GDP Growth Rate at 6.3%... Below Expectations

China's GDP growth rate for the second quarter significantly underperformed expectations, showing a sluggish trend.

On the 17th, the National Bureau of Statistics of China announced that the country's GDP growth rate for the second quarter of this year was 6.3% year-on-year. The market had anticipated a growth rate in the 7% range for the second quarter of this year, considering that the GDP growth rate was only 0.4% in the second quarter of last year due to the Shanghai lockdown.

The quarter-on-quarter growth rate recorded 0.8%, down from 2.2% in the first quarter. The market had expected around 0.5%.