China’s economic recovery continued to lose steam in the second quarter of 2023, prompting urgent calls for more stimulus from Beijing.
The world’s second largest economy expanded by 6.3% in the April to June months from a low base a year ago, according to data released by the National Bureau of Statistics (NBS) Monday. The figure was below the expectations of a group of economists polled by Reuters.
Compared to the first quarter, gross domestic product (GDP) grew just 0.8% from April to June. It slowed significantly from the 2.2% quarter-on-quarter growth registered in the first quarter.