China's Q2 GDP Growth Slows to 4.7%, Missing Expectations Amid Economic Pressures
TL;DR Summary
China's economic growth slowed significantly in the second quarter due to a real estate downturn, causing cautious consumer spending. The Communist Party is meeting to address the economic challenges, with the latest data showing a 0.7% growth over the previous quarter, translating to an annual rate of about 2.8%. This is a sharp decline from the first quarter's revised annual growth rate of 6.1%.
- China’s Economy Slows as Housing Troubles Squeeze Spending The New York Times
- China reports second-quarter GDP growth of 4.7%, missing expectations CNBC
- China to Unveil Economic Data as Pressure Builds on Xi Bloomberg
- China's Q2 GDP misses forecasts, keeps stimulus calls alive Reuters
- Breaking China’s economy grew by 4.7% in second quarter, lower than expected amid pressures South China Morning Post
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