China’s economy slows in second quarter

Peace and Freedom

AFP

© AFP / by Allison JACKSON | The world’s second-largest economy seeks stability in the face of a darkening global outlook

BEIJING (AFP) – China’s economy lost momentum in the second quarter, a survey shows, as Beijing’s efforts to curb risky lending and investment took a toll on the Asian powerhouse.

The world’s second-largest economy expanded by 6.8 percent in the April-June period, compared with a year ago, according to the median forecast of 12 analysts polled by AFP.

That follows a better-than-expected increase of 6.9 percent in the first three months of the year.

The estimate comes ahead of the official release on Monday of China’s closely-watched GDP growth data for the second quarter.

Debt-fuelled investment in infrastructure and real estate has underpinned China’s growth for years but warnings of a potential financial crisis have spurred Beijing to clamp down.

In the latest alert, Fitch Ratings on Friday said…

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