Hong Kong CNN —China’s economy expanded by 6.3% in the second quarter from a year ago because of a low base, with momentum slowing following a strong reopening in the first quarter.
Compared to the first quarter, gross domestic product grew just 0.8% from April to June, according to data from the National Bureau of Statistics (NBS).
Last year, harsh Covid-19 lockdowns wreaked havoc in the world’s second largest economy, including in the financial hub of Shanghai.
The economy rebounded strongly In the first quarter after the lifting of pandemic restrictions, with GDP growing at 4.5%.
Youth unemployment hit another record high, with the jobless rate for those ages 16 to 24 reaching 21.3% in June.
Organizations:
Hong Kong CNN, National Bureau of Statistics, Reuters
Locations:
Hong Kong, Shanghai, Beijing