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China's Q2 GDP growth beats forecasts and recovers to 3.2%

Despite promising figure, economy clouded by severe floods and trade tensions

Pedestrians in face masks stroll through a Beijing shopping district in early July. (Nikkei Montage/Source photo by Reuters)

SHANGHAI -- China's gross domestic product growth swung back to the black in the April-June quarter, driven by a recovery in production and spending amid coronavirus-induced headwinds, signaling a major turnaround despite the plunging global economy.

The 3.2% year-on-year growth announced by the National Bureau of Statistics on Thursday eclipsed the 6.8% contraction in the first quarter -- the first negative growth since 1992, when the country started announcing growth every quarter. The latest result also beat the median 1.1% forecast by economists surveyed by Nikkei.

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