CX Daily: China’s GDP Growth Slows to 5.2% as Domestic Demand, Property Continue to Weigh

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China’s GDP growth slows to 5.2% as domestic demand, property continue to weigh

China’s GDP growth slowed in the second quarter to 5.2% year-on-year, with domestic consumption losing momentum and property investment falling at the fastest pace since early 2020.

The figure, which the National Bureau of Statistics (NBS) released Tuesday along with June economic activity data, is the same as the average forecast in a Caixin survey of economists. However, the number came in below the expectation-beating 5.4% growth recorded for the first quarter, leaving first-half growth at 5.3%.