Article 6D14F China GDP growth falls short of expectations as sinking property prices hit economy

China GDP growth falls short of expectations as sinking property prices hit economy

by
Peter Hannam
from on (#6D14F)

Data shows the economy grew just 0.8% in the June quarter, down from 2.2% in the first three months of 2023

China's economy expanded 6.3% in the second quarter from a year ago, falling short of market expectations as export demand remained tepid and sinking property prices sapped consumer confidence.

Compared with a year earlier, China's GDP in the April-June period was 6.3% larger, the national bureau of statistics said on Monday, quickening from the 4.5% annual growth pace for the first three months of 2023. Economists had forecast growth to accelerate to 7.3%, according to a Reuters survey.

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