China’s GDP H1 2024 +5%

According to the latest data released by the National Bureau of Statistics, China’s GDP grew by 5 per cent year on year in the first half of 2024.

In the second quarter of 2024, the economy expanded by 4.7 per cent from a year earlier, following a 5.3 per cent growth recorded in the first quarter, while on a quarterly basis, China’s GDP increased by 0.7 per cent in Q2.

China’s retail sales of consumer goods, a major indicator of the country’s consumption strength, increased by 3.7 per cent in the first six months of 2024.

The country’s fixed asset investment, a gauge of expenditure on items including infrastructure, property, machinery, and equipment, rose by 3.9 per cent in H1 2024.

China’s value-added industrial output, an indicator of activity in the manufacturing, mining, and utilities sectors, grew by 6 per cent in the January-June period.

The urban unemployment rate stood at 5 per cent in June 2024.