China's Q2 GDP growth slows to 7.6%

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China's economy expanded 7.6 percent year-on-year in the second quarter of 2012, slowing from 8.1 percent in the first quarter, the National Bureau of Statistics (NBS) said Friday.

China's economy expanded 7.6 percent year-on-year in the second quarter of 2012.

China's economy expanded 7.6 percent year-on-year in the second quarter of 2012. [File Photo]

The figure, which marked the sixth consecutive quarter of decline, revealed the slowest growth pace since the third quarter of 2009 and was within market expectation of below 8 percent.

Don't niss:
• Industrial output
 • Fixed-asset investment
• Retail sales 
On a quarterly basis, the country's economy grew 1.8 percent in the second quarter, NBS spokesman Sheng Laiyun said at a press conference.

According to preliminary statistics, the country's GDP grew 7.8 percent year-on-year to reach 22.71 trillion yuan (US$3.6 trillion) during the first half, Sheng said.

Challenged by a sluggish external market and global economic woes, China lowered its full-year growth target for 2012 to 7.5 percent in early March, after its economy grew 9.2 percent year-on-year last year.

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