China economic growth falls sharply, missing target
EuropeBusinessHigh confidence — 84/100
China's economic growth slowed sharply between the start of April and end of June as weak domestic demand and the Iran war's impact on oil prices overshadowed the country's strong exports.
Official gross domestic product (GDP) figures showed the world's second largest economy grew in the second quarter by 4.3%, below Beijing's annual target, and after a 5% rise in the first quarter.
It comes a day after government data showed that China's exports jumped by 27% in June compared to a year earlier.
Confirmed
China's economic growth slowed sharply between the start of April and end of June as weak domestic demand and the Iran war's impact on oil prices overshadowed the country's strong exports.
Official gross domestic product (GDP) figures showed the world's second largest economy grew in the second quarter by 4.3%, below Beijing's annual target, and after a 5% rise in the first quarter.
It comes a day after government data showed that China's exports jumped by 27% in June compared to a year earlier.