BEIJING (Reuters) – A flurry of economic data from China on Monday is expected to show its post-pandemic bounce is quickly fizzling out, raising expectations that Beijing needs to unveil more stimulus measures soon to shore up activity and shaky consumer confidence.
After a strong start to the year following the dismantling of tough COVID-19 measures, recent data have pointed to a sharp loss of economic momentum due to weak demand at home and abroad and a protracted slump in the country’s property market, traditionally a significant growth driver.
The world’s second-largest economy likely managed just 0.5% growth in the second quarter compared with three months earlier, on a seasonally adjusted basis, according to economists polled by Reuters, with separate data for June expected to show industrial output, retail sales and investment continuing to cool.
Some economists have blamed the “scarring effects” caused by years of strict COVID measures and regulatory curbs on the property and…
2023-07-15 19:32:05
Source from finance.yahoo.com
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