China said Monday that second-quarter gross domestic product grew by 6.3% from a year ago, missing expectations.
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National Bureau of Statistics spokesperson Fu Linghui noted China faces a complex geopolitical and economic international environment. He also said China can still achieve its full-year growth target. Beijing in March set a goal of around 5% growth for 2023. Retail sales for June rose by 3.1%, a touch below the 3.2% expected. Within retail sales, that of catering, sports and entertainment products along with alcohol and tobacco rose the most. Autos, office products and daily use goods saw sales decline in June from a year ago. Online sales of physical goods grew by 6.7% in June from a year ago, slower than in May, according to CNBC calculations of official data accessed via Wind Information.
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