China’s economy unexpectedly slowed to its weakest level in more than three years, according to official data released on Wednesday.
Source: Sharecast
Gross domestic product for the second quarter came in at 4.3% down from the 5% recorded in the previous three months as weak domestic demand and the impact of the Iran war on oil supplies outweighed stronger production and exports.
For the first half of the year GDP expanded by 4.7%, within Beijing’s 4.5–5% annual target range.
Reporting by Frank Prenesti for Sharecast.com
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