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June 23, 2024
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World News

Coronavirus: Chinese economy bounces back into growth

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China’s economy grew 3.2% in the second quarter following after a record slump.

The world’s second biggest economy saw a sharp decline in the first three months of the year during coronavirus lockdowns.

But figures released on Wednesday show China’s Gross Domestic Product (GDP) returned to growth during April to June.

The numbers are being closely watched around the world as China restarts its economy.

The figure is higher than experts were predicting – the 3.2% represents the growth compared with the same period last year.

It follows a steep 6.8% slump in the first quarter of the year, which was the biggest contraction since quarterly GDP records began in 1992.

The government has been rolling out a raft of measures to help boost the economy, including tax breaks.

For the first six months of the year, China’s economy fell 1.6% in the first six months from a year earlier, its National Bureau of Statistics said.

Click Here to Visit Orignal Source of Article https://www.bbc.co.uk/news/business-53399999

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