China reports second-quarter GDP growth of 4.7%, missing expectations

China’s Second-Quarter GDP Misses Expectations China’s second-quarter GDP grew by 4.7% YoY, falling short of the anticipated 5.1% growth. Retail sales in June also missed expectations, rising by 2% YoY instead of the forecasted 3.3%. Industrial production, on the other hand, exceeded expectations, increasing by 5.3% YoY in June, above the projected 5% rise. Urban fixed asset investment for the first half of the year matched expectations, with a 3.9% increase. China’s high-level policy meeting, the Third Plenum, is currently underway.