China economy grows at slowest pace in 50 years outside Covid as population shrinkage signals long-term decline

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City AM

By Jack Barnett China’s economy is growing at the slowest pace since the 1970s, barring the pandemic, due to tough zero Covid restrictions hitting spending, figures out today reveal. The world’s second biggest economy grew three per cent in the three months to December compared to the same period in 2021, beating the consensus forecast of just 1.6 per cent growth. Despite the upside surprise, a big fall in consumer spending dragged headline expansion lower. Retail sales slumped 1.8 per cent in the quarter to December, again beating analysts’ bets, but still weighing on output. Separate data to…

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