Update: China’s GDP Grew 6.3% in Second Quarter, Missing Market Expectations

China’s GDP grew 6.3% year-on-year in the second quarter, official data showed Monday, partly due to a low base from the same period last year, when Covid curbs slowed growth to 0.4%.

The latest figure comes in lower than the average estimate of 7% growth in a recent Caixin survey of economists.

Although the year-on-year growth beat the 4.5% rise recorded in the first three months of 2023, GDP in the April-to-June period only grew 0.8% from the previous quarter, according to the National Bureau of Statistics (NBS).