16-July-2024
Economy News
 
China's Q2 GDP Misses Forecasts, Keeps Stimulus Calls Alive
15-Jul-2024

China's economy slowed in the second quarter, data showed on Monday, as a protracted property downturn and job insecurity weighed on domestic demand, keeping alive expectations Beijing will need to unleash more stimulus. The world's second-largest economy grew 4.7% in April-June, official data showed, its slowest since the first quarter of 2023 and missing a 5.1% analysts' forecast in a Reuters poll. It was also down from the 5.3% expansion in the previous quarter. "Soft domestic demand could continue to weigh on inflation and start to erode production strength," analysts at Citi said in a note before the data release.

News Source:- https://money.usnews.com/investing/news/articles/2024-07-14/chinas-economy-seen-slowing-in-q2-as-stimulus-calls-grow