China’s economic growth slows to still robust 7.9%

China’s economic growth slowed in the first three months of the year to 7.9%, from a year ago, as the coronavirus rebound stabilized.

The growth number is still strong, albeit down from the explosive 18.3% expansion of the previous quarter.

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That number was a jump from early 2020, when the economy came to a standstill to fight the coronavirus.

The economy grew at a 1.3% pace in the April-June quarter compared to the previous three months, much like other major economies report their results.

“The Chinese economy has experienced a steady recovery with a recovery in production and demand,” the National Bureau of Statistics said in a statement.

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Manufacturing, auto sales and consumer spending have exceeded pre-pandemic levels since the ruling Communist Party declared victory over the coronavirus last March and allowed factories and stores to reopen.

Beijing injected additional money last week into the pool available for loans to support business and consumer activity as retail spending still lags behind.

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The International Monetary Fund and private sector forecasters forecast economic growth of around 8% this year, but say it is expected to slow significantly in 2022.

The Associated Press contributed to this report.