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China narrowly misses second-quarter contraction as zero-Covid batters economy

Summary by Ground News
World's second-biggest economy expanded 0.4 per cent year on year in the three months to the end of June, below the 1.2 per cent forecast by economists. slowdown reflected the hit from a two-month lockdown in Shanghai, which took full effect in April. Beijing is expected to miss its target of about 5.5 per cent annual growth for 2022.
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