China’s gross domestic product in the April-June period expanded at a slower pace than the previous quarter, showing that the country’s economic recovery lacks strength.
The National Bureau of Statistics said on Monday that inflation-adjusted GDP grew 4.7 percent from the same period last year. The rate is down from 5.3 percent in the previous quarter.
Domestic demand and consumer spending remained sluggish due to a prolonged property slump and a tight job market.
The government has announced a plan to have local authorities purchase unsold homes and provide them as affordable housing.
The government is also implementing measures to encourage people to buy home appliances and vehicles. But economists say this will have only limited effect.
The outlook for exports is becoming uncertain because the United States will raise tariffs on Chinese electric vehicles. The European Union is also considering imposing additional duties on them.
In announcing the latest GDP, the statistics bureau did not hold a regular news conference and released the data only online without giving a reason.
Observers believe this has something to do with the third plenary session of the Chinese Communist Party’s Central Committee that opened on Monday.
The session decides long-term economic policies.