Chinese growth falters to 0.8% in second quarter of 2023

Compared to 2.2% in March

Chinese growth in the second quarter of 2023 reached just 0.8%, down from a quarter-on-quarter growth rate of 2.2% in March.

In the three months to June, growth still overshot expectations of 0.5%, but the country has seen a reduction from the strong recovery expected following its reopening last year. The updated figures meant that growth for the Chinese economy sat at 6.3% over the last year, compared to expectations of 7.3%. Youth unemployment has continued to climb in the country, now reaching above 21%, figures today (17 July) revealed. China's central bank cuts lending rates as analysts warn of lower growth The trade sector was especially weak for the country throughout June, falling 6%, wit...