China second quarter GDP growth slows 4.3 percent weakest since late 2022
China's economy grew 4.3% in Q2, the weakest quarter since late 2022 and below the 4.5% analysts expected, per the National Bureau of Statistics. Exports stayed strong while consumer spending and property investment sagged, deepening the economy's reliance on foreign demand.
China's growth engine slowed to its weakest pace in over three years. GDP expanded 4.3% year on year in the second quarter, the National Bureau of Statistics reported, down from 5% in the first quarter, below the roughly 4.5% analysts expected, and the slowest reading since late 2022. First-half growth stands at 4.7%. The composition is the real story: exports stayed strong while consumer spending weakened, fixed-asset investment fell and the property slump deepened. Officials pointed to external factors, with higher oil prices linked to the Middle East conflict adding pressure. The widening split leaves the world's second-largest economy increasingly dependent on foreign demand at a moment when trade tensions make that demand less reliable, and it raises pressure on Beijing to deliver stimulus aimed at households rather than factories. For businesses worldwide, softer Chinese domestic demand ripples through commodities, luxury goods and industrial equipment orders. Per the South China Morning Post, CNBC and NPR.