China's economic growth slowed for the sixth-straight quarter, falling year-on-year to 7.6 per cent in the second quarter, the government said Friday.
The pace was the slowest in three years for the world's second-largest economy as economic troubles in Europe and the United States lowered demand for Chinese exports.
The figure followed 8.1-per-cent growth in the first quarter and an 8.9-per-cent rise in the fourth.
Growth in manufacturing, trade and retail sales have all slowed and weighed on gross domestic product (GDP) growth, the National Bureau of Statistics said.
The government has orchestrated a controlled slowdown in GDP from previous double-digit growth to prevent an overheating of the economy, but the world has nervously watched the drop-off in China because China is seen as a prop to the global economy as it struggles with the eurozone debt crisis and a sluggish US recovery and is at risk of sliding into recession.
In March, Beijing lowered its forecast of economic growth this year to 7.5 and has taken measures since then to stimulate the economy.
Lower demand in other countries for what China produces has taken a bite out of its growth as has weak domestic demand. While its economic growth continues to be strong, its government has yet to achieve its goal of creating a more balanced economy that is not so dependent on exports and where demand from consumers at home is far stronger.
Most Popular Stories
- Ex-Mobster to Bulger: Just Say Sorry
- Google Stock Split Ahead
- Guns Are Hot in California
- El Paso Symposium Offers Help to Startups
- Small Businesses Hiring, but Worry About Expense
- OSH Selling Most of Its Stores to Lowe's
- Home Lending Offices Not Seeing Effects of Pickup
- How Green Is Google?
- Florida Enterprises Look to Costa Rica
- San Francisco Renters Battle Over Conversions