Chinese economy grew 7.5% in second quarter

Chinese economy grew 7.5% in second quarterAccording to the latest data released, the gross domestic product (GDP) of China has grown 7.5 per cent during the second quarter of the year.

The growth is lower 7.7 per cent recorded during the first quarter of the year and is slowest growth in decades. The Chinese economy, which is now the second largest economy in the world, has been slowing since its peak in
2007, and these are concerns that the growth in the emerging economy might be losing steam.

The government announced that the China's gross domestic product rose 7.5 per cent during the April to June quarter, recoding a second consecutive quarter with slower growth and raising concerns over the outlook for the Asian economy. The growth rate for the quarter is in-line with the median forecast of 7.5 per cent in a survey of 10 economists by AFP.

The National Bureau of Statistics (NBS) said that the Chinese economy recorded a growth of 7.6 per cent during the first six months of the year. The slower growth has worried several trade partners who relied of fast growth in China to boost economic growth, as demand is China gets affected due to the slowdown.