China Gets Zapped With Tepid Growth

China’s economic recovery continued to lose steam in the second quarter of 2023, prompting urgent calls for more stimulus from Beijing, Laura He reported for CNN.

Photo Insert: China's gross domestic product (GDP) grew just 0.8% from April to June. It slowed significantly from the 2.2% quarter-on-quarter growth registered in the first quarter.

Beijing’s economy expanded by 6.3% in the April to June months from a low base a year ago, according to data released by the National Bureau of Statistics (NBS) Monday.

The figure was below the expectations of a group of economists polled by Reuters. CK Tan reported for Nikkei Asia that the measly growth came from so-so recoveries in the retail and services sectors.

Compared to the first quarter, gross domestic product (GDP) grew just 0.8% from April to June. It slowed significantly from the 2.2% quarter-on-quarter growth registered in the first quarter.

The Associated Press (AP) noted that China has been engaged in retail, slowly dripping stimulus packages mainly for regional and provincial economies hit largely by the dismally performing property market.

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