China’s growth has begun to slow after a year of leading the global economy from a pandemic downturn.
Soaring raw material costs are digging into the profits of factories and retailers. People are hesitant to use it because a small outbreak of Covid-19 reminds them that the pandemic is not over yet.
China reported Thursday that its economy grew 7.9 percent from April to June compared to the same period last year.The pace is still stronger than in many other countries, but it is 18.3 percent leap The economy was created in the first three months of the year and fell short of estimates.
The lesson for the rest of the world is that even if outbreaks are curtailed, fallout from a pandemic can weaken consumer confidence and undermine corporate profits. It raises questions about the resilience of rebounds in the economies of other countries as it repeats outbreaks from the southern United States to parts of the United Kingdom, Indonesia and Australia.
Lee You And Liu Yi Contributed to the research.
China’s growth slows as pandemic concerns continue
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