The Chinese economy slowed sharply in the second quarter. The nation recorded its weakest expansion since the final months of 2022. A steep drop in investments and weak consumer spending weighed heavily on growth. The poor performance has led to widespread calls for Beijing to introduce new economic stimulus measures.
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Subscribe Sekarang →According to data released by the National Bureau of Statistics on Wednesday, gross domestic product grew by 4.3% from April through June. This figure missed the 4.5% expansion predicted by economists in a Reuters poll. The results show a clear deceleration from the 5% growth recorded in the first quarter of the year.
The second-quarter numbers fell below the full-year target set by the government. Beijing aimed for a growth range of 4.5% to 5%, which was already its least ambitious target in decades. Policy makers face mounting pressure as trade tensions rise with the United States and the European Union while domestic demand remains cold.