Beijing: China’s economy grew faster than expected in the second quarter as industrial output picked up and investment remained strong, though analysts expect growth to slow over the remainder of the year as policymakers seek to reduce financial risk. The economy grew 6.9% in the second quarter from a year earlier, the same rate as the first quarter, the National Bureau of Statistics said on Monday. Analysts polled by Reuters had expected the economy to expand 6.8% in the April-June quarter. More From Livemint »On a quarterly basis, growth picked up to 1.7% from 1.3% in the first quarter, in line with expectations. Retail sales rose 11.0% in June from a year earlier, the fastest pace since December 2015 and beating analysts’ expectations for a 10.6% rise.

Source: Mint July 17, 2017 03:00 UTC