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China growth slows to 4.3% in Q2 as weak demand persists
Second-quarter GDP rose 4.3% year-on-year, trailing Beijing's annual target, as officials cited external instability and an imbalance between strong supply and weak domestic demand.
China's economic growth slowed sharply in the second quarter, with official GDP data showing the world's second-largest economy expanded by 4.3% between April and June, below Beijing's annual goal and after a 5.0% rise in the first quarter, according to BBC Business.
The reporting period covers the first full quarter of data since the start of the Iran war on Feb. 28, with the outlet noting weak domestic demand and the conflict's knock-on effect on oil prices weighed on activity. The National Bureau of Statistics also pointed to more external uncertainty and said there was an imbalance in the domestic economy between strong supply and weak demand.
Separate customs figures released alongside the growth data showed exports jumped 27% in June from a year earlier, with BBC Business highlighting strength in tech exports tied to global semiconductor demand for AI data centres and a surge in Chinese electric-vehicle shipments.
The outlet also cited continuing pressure at home, including a long-running property downturn and weak consumer spending. New home prices contracted again in June, with the latest decline of 0.1%, though the fall was slightly slower than the previous month.