China's economy falters, raises pressure for more stimulus

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BEIJING, July 15 — China's economy grew much slower than expected in the second quarter, as a protracted property downtu...

The years-long property crisis deepened in June as new home prices fell at the fastest pace in nine years, battering consumer confidence and constraining debt-laden local governments' ability to generate fresh funds through land sales.

On a quarterly basis, growth came in at 0.7 per cent from a downwardly revised 1.5 per cent in the previous three months, the data from the National Bureau of Statistics (NBS) showed.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChina

Topics: Stimulus China economy Deflatation

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-15 @ 16:54:19 (1 days ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 912 words

Reading Time: 6 minutes read

Sentences: 29 lines

Sentence Length: 32 words per sentence (average)

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Copyright Owner: © Malay Mail

News ID: 21627309

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