The comments will unsettle investors, who had hoped that Beijing’s decision to abandon strict and prolonged COVID curbs at the end of last year would revive the world’s second-biggest economy.‘s economy grew at a frail pace in the second quarter as demand weakened at home and abroad, with post-COVID momentum faltering rapidly.
Analysts have warned easing input costs will put pressure on companies to start cutting prices, or they may lose business. Electrolux, Europe’s biggest home appliances maker, swung to a loss as cash-strapped shoppers opted for cheaper products and demand from residential property builders slowed.
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