How China's Economy Compares to the US's After Latest Results
==========
China's GDP grew by 5% in the first half of 2024, with a year-on-year growth rate of 4.7% in Q2. The U.S. economy is predicted to stabilize in the second half of 2024, with consumer demand still strong. China's retail sales of consumer goods increased by 3.7% year-on-year, lower than the 7.2% reported in 2023. The gap between China's and the U.S.'s economies widened in 2023, with China's GDP being two-thirds the size of the U.S.'s. China's ongoing property crunch and muted domestic demand continue to weigh on its economy. The U.S. Department of Commerce reported a slower GDP growth rate of 1.4% year-on-year for Q1 2024. Deloitte predicts the U.S. economy will grow by 2.4% in 2024 and slow to 1.1% in 2025. China's economy is no longer on track to surpass the U.S. as the world's largest.
#China #Us #Economy #Gdp #Growth #PropertyCrunch #ConsumerDemand
https://www.newsweek.com/china-us-economies-compared-1925603
Newsweek /
npub1ka…2agq5
2024-07-17 03:37:12
Author Public Key
npub1ka5jtasfg8rfe47ypj4x0a2d70fvaksu0u9z9rku70yc8hmjmu9sz2agq5Published at
2024-07-17 03:37:12Event JSON
{
"id": "9855af2315204715916ddfd636cebccaeb5e7d4b60d8038b799da52130246de3",
"pubkey": "b76925f60941c69cd7c40caa67f54df3d2ceda1c7f0a228edcf3c983df72df0b",
"created_at": 1721187432,
"kind": 1,
"tags": [],
"content": "How China's Economy Compares to the US's After Latest Results\n==========\n\nChina's GDP grew by 5% in the first half of 2024, with a year-on-year growth rate of 4.7% in Q2. The U.S. economy is predicted to stabilize in the second half of 2024, with consumer demand still strong. China's retail sales of consumer goods increased by 3.7% year-on-year, lower than the 7.2% reported in 2023. The gap between China's and the U.S.'s economies widened in 2023, with China's GDP being two-thirds the size of the U.S.'s. China's ongoing property crunch and muted domestic demand continue to weigh on its economy. The U.S. Department of Commerce reported a slower GDP growth rate of 1.4% year-on-year for Q1 2024. Deloitte predicts the U.S. economy will grow by 2.4% in 2024 and slow to 1.1% in 2025. China's economy is no longer on track to surpass the U.S. as the world's largest.\n\n#China #Us #Economy #Gdp #Growth #PropertyCrunch #ConsumerDemand\n\nhttps://www.newsweek.com/china-us-economies-compared-1925603",
"sig": "0eddebcd7ad0a007a2aea9234fde84e4e807f5f8a4937358f6d29e6f68272684f151e127874e25e6817fe8904ca160c7acc28ddeb32e3a7e0e0477f8f947f7bb"
}