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China’s economy slows to 4.3% growth as weak demand and Iran war weigh on recovery
By GhanaSummary Newsroom1 min read
China's economic growth slowed sharply between the start of April and the end of June as weak domestic demand and the Iran war's impact on oil prices overshadowed the country's strong exports.
The announcement represents the first full quarter of GDP data since the start of the Iran war on 28 February and marks the lowest quarterly expansion since the end of 2022, as China was emerging from its strict Covid-19 restrictions.
It also noted an imbalance between strong supply and weak demand in the domestic economy.
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