The Chinese economy grew by 3.2 percent year-on-year in the second quarter of 2020, rebounding from a record 6.8 percent contraction in the previous three-month period and beating market consensus of a 2.5 percent expansion. The country became the first major economy to report growth following the coronavirus pandemic, as factories and stores reopened following months of coronavirus-induced restrictions. However, a continuing fall in retail trade underlined weakness in consumer spending and the need for more support from Beijing to accelerate the economic recovery. Considering the first half of the year, the economy contracted by 1.6 percent over the same period of 2019.
GDP Annual Growth Rate in China averaged 9.27 percent from 1989 until 2020, reaching an all time high of 15.30 percent in the first quarter of 1993 and a record low of -6.80 percent in the first quarter of 2020. This page provides - China GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. China GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: National Bureau of Statistics of China
GDP Annual Growth Rate in China is expected to be 3.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in China to stand at 5.10 in 12 months time. In the long-term, the China GDP Annual Growth Rate is projected to trend around 5.60 percent in 2021 and 5.90 percent in 2022, according to our econometric models.