China’s Economic Growth Slows to 3-Year Low

Posted July 13th, 2012 at 1:25 am (UTC-5)
Leave a comment

Chinese officials say economic growth has slumped to a three-year low, dragged down by global economic uncertainties.

The National Bureau of Statistics reported Friday that the economy grew by 7.6 percent in the second quarter of 2012, sharply slowing from a 9.7 percent growth rate in the same quarter of 2011.

The figure was the lowest recorded since the 6.1 percent increase seen in the second quarter of 2009.

Lower demand in other countries for Chinese exports as well as weak domestic demand has been blamed for weakened growth.