China's GDP growth slowed to 4.3 percent in the second quarter, its weakest rate since late 2022.
Official data released Wednesday shows China's economy grew 4.3 percent year-on-year in Q2, a decline in quarterly momentum since the end of the pandemic era. Weak domestic consumption continues to offset strong export performance despite global demand shifts.
Chinese economic output expanded at an annualized pace of 4.3 percent during the second quarter, marking the slowest quarterly growth recorded since late 2022 when the nation faced the initial economic effects of the Covid-19 pandemic. Official data made public on Wednesday attributes this slowdown primarily to sluggish domestic consumer demand, even as export volumes surged in some sectors. Industry observers note that while trade balances improved, internal spending patterns failed to provide sufficient traction for the broader economy. This growth rate remains below historical averages set during the pre-pandemic period. The figures highlight a continued reliance on external markets to maintain momentum when local purchasing power stagnates.
