{
    "success": true,
    "data": {
        "id": 1860953,
        "msgid": "chinas-growth-plummets-to-lowest-level-since-2022-amid-weak-domestic-demand-1784105567",
        "date": "2026-07-15 15:00:00",
        "title": "China's Growth Plummets to Lowest Level Since 2022 Amid Weak Domestic Demand",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Economy",
        "summary": "China's economic growth slowed sharply to 4.3% in the second quarter, missing its annual target and marking the weakest expansion since late 2022. The slowdown occurred despite a massive 27% surge in exports, as a prolonged property slump and weak consumer spending weighed heavily on domestic demand. The performance underscores the challenges facing Beijing from both internal imbalances and external pressures, including the impact of the Iran conflict on global oil prices.",
        "content": "<p>China\u2019s economic growth slowed sharply in the second quarter of this\nyear, with weak domestic demand emerging as a primary trigger for the\ndownturn in the world\u2019s second-largest economy. The impact of the Iran\nwar, which triggered a surge in global oil prices, also cast a shadow\nover economic performance. These external and internal factors\nultimately offset the strength of China\u2019s export performance.<\/p>\n<p>According to official gross domestic product (GDP) data, the economy\ngrew by just 4.3% in the April to June period. This figure is\nsignificantly below the annual target set by Beijing and marks a notable\ndecline from the 5% growth recorded in the first quarter. The slump\noccurred despite a massive export surge, with government data showing\nthe value of Chinese exports skyrocketing by 27% in June compared to the\nprevious year.<\/p>\n<p>This latest GDP report is the first full quarterly record since the\nIran war erupted on 28 February. It represents the lowest quarterly\nexpansion for the Chinese economy since the end of 2022, when the\ncountry was emerging from strict Covid-19 restrictions. In March, the\nChinese government had already slashed its economic growth target to a\nrange of 4.5% to 5%, the lowest expansion goal set by Beijing since\n1991. Analysts believe the target cut was a deliberate move to give\nofficials greater flexibility in managing the country\u2019s economic\ndynamics.<\/p>\n<p>A note from China\u2019s Statistics Bureau highlighted more external\ninstability and uncertainty, alongside an imbalance between strong\nsupply and weak demand within the domestic economy. Separate data\nreleased on Wednesday further underscored the severity of the domestic\nchallenges facing Beijing, including a prolonged property market slump\nand weak consumer spending. New home prices contracted again in June,\nalthough the 0.1% decline was at a slightly slower pace than the\nprevious month.<\/p>\n<p>On a more positive note, the retail sales sector showed signs of\nrecovery, growing by 1% in June and reversing a 0.6% drop recorded in\nMay. China\u2019s technology export sector also benefited from soaring global\ndemand, particularly for semiconductors needed in artificial\nintelligence data centres. A surge in global demand for electric\nvehicles provided a massive contribution to foreign trade performance,\nwith China\u2019s monthly car exports surpassing one million units for the\nfirst time in history.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/chinas-growth-plummets-to-lowest-level-since-2022-amid-weak-domestic-demand-1784105567",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}