毕马威：2024年第三季度中国经济观察报告（英文版）

China's GDP grew 5% year-on-year in H1 2024,reaching the target set at the Two Sessions.However, the growth rate in Q2 dropped to4.7% in Q2 from 5.3% in Q1, which was lowerthan expectations. Beyond challenges posedby extreme weather, the slowdown reflectedsluggish domestic demand.The contribution of consumption to GDp fellfrom 73.7% in Q1 to 46.5% in Q2. Retail salesgrowth plummeted to 2.6% in Q2 from 4.7% inQ1 due to weakness in incomes. Fixed assetinvestment growth dropped to 3.6% in Q2