China's Q2 GDP misses forecasts, keeps stimulus calls alive

Electric cars for export stacked at the Taicang Port in Suzhou. — AFP

BEIJING: China's economy slowed in the second quarter, data showed on Monday, as a protracted property downturn and job insecurity weighed on domestic demand, keeping alive expectations Beijing will need to unleash more stimulus.

The world's second-largest economy grew 4.7% in April-June, official data showed, its slowest since the first quarter of 2023 and missing a 5.1% analysts' forecast in a Reuters poll. It was also down from the 5.3% expansion in the previous quarter.