China’s economy brakes sharply
China's economic growth slowed sharply in the second quarter, highlighting the colossal toll on activity from widespread Covid lockdowns and pointing to persistent pressure over coming months from a darkening global outlook.
Friday's frail data adds to fears of a global recession as policymakers jack up interest rates to curb soaring inflation, heaping more hardship on consumers and businesses worldwide as they grapple with challenges from the Ukraine war and supply chain disruptions.
Gross domestic product in the April-June quarter grew a tepid 0.4 per cent from a year earlier, official data showed on Friday. That was the worst showing for the world's second-biggest economy since the data series began in 1992.