China Records Slowest GDP Growth in 4 Years
Weak consumption and a property slump offset strong exports, while fixed-asset investment fell 5.7% in the first half, official data showed.
- China's National Bureau of Statistics reported Wednesday that the economy expanded 4.3% year-on-year in the April-June quarter, marking a sharp slowdown from 5.0% growth in the January-March quarter.
- Weak domestic demand and a prolonged property slump weighed on growth, creating a divergence where manufacturing and Exports outperformed while consumer spending remained sluggish, according to Economists.
- Exports rose 17.6% in the first half of the year while industrial output increased 5.3% and retail sales grew 1.0%, highlighting the country's reliance on manufacturing to sustain momentum.
- ZHANG, Chief Economist at PINPOINT ASSET MANAGEMENT in Hong Kong, said the government is "still on track" to meet its 4.5%-5% target and "will likely remain strong in the short term."
- A Reuters poll expects China's expansion to ease to 4.4% by 2027 as global demand cools, though the International Monetary Fund recently raised its 2026 forecast to 4.6%.
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171 Articles
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