China’s GDP growth slows to 7.5 % | business | Hindustan Times
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China’s GDP growth slows to 7.5 %

business Updated: Jul 15, 2013 23:27 IST

China’s GDP growth slowed in the second quarter to 7.5% year-on-year from 7.7% a quarter ago as weak overseas demand weighed on output and investment, lining up a test of Beijing’s resolve to revamp the world’s second-biggest economy in the face of deteriorating data.

Other figures showed industrial output in June rising slightly less than forecast compared with a year earlier, but retail sales increasing more than had been expected.

“These figures are not surprising, adding to signs of downward pressure on China’s economy,” said Zhou Hao, an economist at ANZ Bank in Shanghai.

China’s statistics bureau said the economy’s performance in the first half of the year was stable overall and that indicators were within a reasonable range.