China reports second-quarter GDP growth of 4.7%, missing expectations

Industrial production in China increased by 5.3% in June, beating market expectations of a 5% gain. This marks a moderation from the 5.6% growth recorded in the previous month, due to a slowdown in manufacturing activities. Production, however, accelerated for utilities and mining activities.

China's GDP growth rate in the second quarter was 4.7%, slower than the 5.3% year-on-year increase in the first quarter. This missed expectations of a 5.1% growth as indicated by a Reuters poll.