News Snapshot:
BEIJING (REUTERS) - China’s economy grew more slowly than expected in the second quarter, as slowing manufacturing activity, higher raw material costs and new Covid-19 outbreaks weighed on the recovery momentum. Gross domestic product (GDP) expanded 7.9 per cent in the April-June quarter from a year earlier, official data showed on Thursday (July 15), missing expectations for a rise of 8.1 per cent in a Reuters poll of economists. Growth slowed significantly from a record 18.3 per cent expansion in the January-March period, when the year-on-year growth rate was heavily skewed by the Covid-induced slump in the first quarter of...
