China’s Q2 GDP grows 3.2%, beats expectations

Reuters: China’s economy grew 3.2% in the second quarter from a year earlier, data showed on Thursday, recovering from a record contraction as lockdown measures ended and policymakers stepped up stimulus to combat the shock from the coronavirus crisis.

The growth was faster than the 2.5% forecast by analysts in a Reuters poll, and followed a steep 6.8% slump in the first quarter, the first such contraction since at least 1992 when quarterly gross domestic product (GDP) records began.

On a quarter-on-quarter basis, GDP rose 11.5% in April-June, the bureau said, compared with expectations for a 9.6% rise and a 10% decline in the previous quarter.