China’s GDP grew by 0.4% in the second quarter compared with the same period in 2021, which is considered an unexpected growth.
China’s industrial production, in June, also grew slower than forecast, with 3.9% compared to 2021.
Retail sales in June increased by 3.1%, reversing from May, due to large promotions.
Statistics on the unemployment rate in China’s 31 largest cities also fell to only 5.8%.
In the second quarter, China faced the Covid-19 epidemic, blockade orders were imposed to limit the epidemic.
In early June 2021, Beijing, Shanghai and some other places in China began to normalize operations.
Many banks have continuously lowered their growth forecasts for China due to the country’s blockade policy.
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