According to preliminary estimates released by the National Bureau of Statistics, China, the country's Gross Domestic Product (GDP) experienced a year-over-year increase of 6.3% in the second quarter, surpassing the 4.5% growth observed in the first quarter. However, this growth rate fell short of the 7.3% increase predicted by economists, as reported by Reuters.

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Moreover, on a quarter-over-quarter basis, the GDP exhibited a 0.8% rise, which also fell below the anticipated growth of 2.2%.

Weak consumer spending threatens to drag the economy into a deflationary trap, with prices stalling in June while a decline in factory prices deepened. The government said that June home sales fell 18% in volume and 19% in value...Read More

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