China growth slows to 6.9% in second quarter: AFP survey | Singapore Informer

© Fournis par AFP Visitors look at a Crayon Shin-chan exhibition in Shenyang, northeast China’s Liaoning province, on July 11, 2015

China’s GDP growth likely slowed further in the second quarter, an AFP survey has found, as a slowdown in investment and trade weighed on the world’s second-largest economy.

The median forecast in a poll of 14 economists indicates gross domestic product (GDP) expanded 6.9 percent in April-June, marginally down from 7.0 percent in the first three months of this year.

That would be the worst quarterly result since the first three months of 2009, in the depths of the global financial crisis, when China’s economy expanded by 6.6 percent.

The National Bureau of Statistics (NBS) will release the official GDP figures for the first quarter of 2015 on Wednesday.

China’s volatile stock markets have grabbed headlines this month after the benchmark Shanghai Composite Index fell more than 30 percent in less than four weeks, before reversing course in the last two trading days.

But economists are focused on more fundamental issues when assessing its overall health.

“According to the figures we have now, economic activities remained very sluggish, particularly fixed-asset investment, which grew 11.4 percent in May, a multi-year low,” Liu Li-Gang, Hong Kong-based ANZ economist, told AFP of the second-quarter performance.

“Exports were weak and imports were even more so.”

– ‘Big downward pressure’ –

Chinese authorities want investment to slow as part of their plan to diversify economic growth away from big-ticket projects to increasingly wealthy consumers. But too fast a deceleration…

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