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China’s road to recovery set to be bumpy, with economists still unimpressed by progress
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The country’s retail sales grew 3.1 per cent in June, compared with May’s 12.7 per cent surge.
PHOTO: BLOOMBERG
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SINGAPORE – China’s less-than-impressive recovery since the lifting of Covid-19 restrictions has raised economists’ concerns that the giant economy is burdened with structural and geopolitical headwinds that will keep hindering growth.
On Monday, China revealed that its gross domestic product expanded 6.3 per cent year on year in the second quarter, below the market forecast of 7.3 per cent, as tepid export demand and falling property prices sapped consumer confidence.
