**China’s GDP Growth Slows to 4.9%, Missing Expectations**.
**Beijing, July 15, 2022** – China’s economic growth slowed to 4.9% in the second quarter of 2022, missing market expectations and marking the weakest pace of expansion since the first quarter of 2020, when the country was hit by the initial outbreak of COVID-19..
The slowdown was primarily driven by a sharp contraction in investment and a slowdown in consumption growth, as strict COVID-19 lockdowns and travel restrictions weighed heavily on economic activity..
**Key Highlights:**.
* Gross domestic product (GDP) grew by 4.9% year-on-year in Q2 2022, compared to 18.3% growth in Q1 2022..
* The growth rate fell short of the median market forecast of 5.1%..
* Fixed asset investment, a key driver of economic growth, declined by 2.5% in the first half of 2022 compared to the same period last year..
* Retail sales, a measure of consumer spending, grew by only 0.5% in June, the slowest pace since May 2020..
* Industrial production, an indicator of factory activity, rose by 3.9% in June, slowing from 8.4% growth in May..
**Reasons for the Slowdown:**.
* **COVID-19 Lockdowns:** China’s strict .
