China's economy rebounded at a faster-than-expected pace in the second quarter underpinned by strong industrial output as global economies attempt to recover from the unprecedented downturn posed by the coronavirus pandemic.
Data published by the National Bureau of Statistics showed that gross domestic product grew 3.2 percent on a yearly basis in the second quarter, in contrast to the 6.8 percent contraction logged in the first three months, which was the first fall since 1992. GDP was expected to grow 2.5 percent.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.