China's economy grows 4.7% in Q2, missing expectations

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Asia Pacific

China's economy grows 4.7% in Q2, missing expectations

China has posted lower-than-expected growth in the second quarter, as top officials gather for a key meeting on Monday in which various reform measures are likely to be launched along with recommendations for more support to boost recovery. The Chinese economy expaded 4.7-percent year on year, missing expectations of a 5.1-percent growth. And slowing from a 5.3% surge in the first quarter. June retail sales also missed expectations, rising 2-percent versus a 3.3-percent forecast. Industrial production, however, beat expectations, growing 5.3-percent in June.