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China Q2 GDP growth slows to 4.3% as property slump deepens
The slowdown underscored a drag from the Iran-linked oil shock alongside the ongoing property downturn, with fixed-asset investment falling 5.7% in the first half.
China’s economy grew 4.3% year-on-year in the second quarter, official data showed, missing the 4.5% forecast and slowing from 5.0% in the first quarter, according to Forexlive citing Reuters.
On a quarterly basis, GDP expanded 0.9%, matching expectations but down from 1.3% growth in the prior quarter, reflecting weaker domestic demand and fallout from an Iran-linked oil shock that has compounded the long-running property downturn.
While factory output and exports have stayed relatively resilient, consumption and investment have struggled, with retail sales rising 1.0% in June after a 0.6% decline in May, and industrial output increasing 5.3% year-on-year.
Fixed-asset investment remained the weak spot, shrinking 5.7% in the first half of the year versus a 4.9% expected decline, and Forexlive said the upcoming Politburo meeting could be pivotal for how Beijing responds.