Breaking: China’s economy grows 4.7% YoY in Q2 2024 vs. 5.1% expected

China’s economy grew 4.7% over the year in the second quarter of 2024, compared to a 5.3% expansion in the first quarter, according to the official data published by the National Bureau of Statistics (NBS) on Monday. The data beat the market expectations of  5.1% in the reported period.

On a quarterly basis, the Chinese Gross Domestic Product (GDP) rate rose 0.7% in Q2 2024 vs. 1.6% registered in the previous quarter. The market forecast was for a 1.1% print.

more to come ....