China’s Economy Slows Sharply as Housing Troubles Squeeze Spending

Economic growth slumped in China through the spring after a strong start this year, according to data released on Monday, as a real estate crash caused consumers to spend more cautiously.

The latest growth statistics for the world’s second-largest economy, covering April through June, put further pressure on the Communist Party as its leaders gathered on Monday in Beijing for a four-day conclave to set a course for the country’s economic future.

In a country known for strict controls on information, the Chinese government is maintaining a particularly tight grip ahead of the party gathering, known as the Third Plenum, which typically takes place every five years. China’s National Bureau of Statistics canceled its usual news conference that accompanies the release of data and Chinese companies are mostly avoiding the release of earnings reports this week.

China’s economy grew 0.7 percent in the second quarter over the previous three months, below the expectations of most economists. When projected out for the entire year, the economy grew at an annual rate of about 2.8 percent — a little less than half the rate in the first three months of this year.

The statistical bureau also revised down its estimate of growth in the first quarter. That rate, projected out for the full year, was about 6.1 percent, not the 6.6 percent rate disclosed in April.

Xi Jinping, China’s top leader, is trying to win confidence in his policies as growth falters and the property market suffers.