China NBS: consumption drove over 52pc of Q2 economic growth

Final consumption expenditure contributed 52.3 percent and 52 percent to economic growth in the second quarter and the first half of the year, said China’s National Bureau of Statistics.

In a briefing on Tuesday, deputy director Sheng Laiyun said gross capital formation and net exports of goods and services accounted for 16.8 percent and 31.2 percent respectively during the first six months.

He said the data indicate that domestic demand, particularly consumption, is the main driver of economic growth.

STAFF REPORTER