China's Q2 GDP slowest since 2022, misses forecasts

China‘s economic growth slowed sharply to 4.3 per cent in the second quarter, official data showed on Wednesday (Jul 15), missing analysts’ expectations as weak domestic demand and the oil shock tied to the Iran war outweighed stronger production and exports. The second-quarter year-on-year growth marked the slowest pace since the fourth quarter of 2022 when China was grappling with the COVID-19 pandemic. Factory output remains robust, helped by AI-related exports, but consumption and investment struggled under the weight of a prolonged property slump and fallout from the global oil shock. CNA's Shenzhen correspondent Deborah Wong and OCBC economist Tommy Xie discuss what drove the weaker-than-expected growth, why domestic demand remains China's biggest challenge, and whether Beijing is likely to roll out fresh stimulus measures to support consumption.

Subscribe to our channel here: https://cna.asia/youtubesub

Visit our website: https://cna.asia
Download our app: https://cna.asia/app

Get our editors' picks of stories via chat apps:
Telegram: https://cna.asia/telegram
WhatsApp: https://cna.asia/whatsapp

Follow us on these platforms:
https://www.facebook.com/channelnewsasia
https://www.instagram.com/channelnewsasia
https://www.tiktok.com/@channelnewsasia