AI Data Insight
China's cumulative year-on-year growth rate of per capita consumption expenditure for urban residents reached 2.0% in the second quarter of 2026, unchanged from the previous reading, indicating that consumption momentum remains sluggish. Affected by the hovering property market at low levels and a pressured job market, weak domestic demand further dragged down China's Q2 economic growth rate to just 4.3%, missing market expectations. Going forward, close attention needs to be paid to whether official stimulus policies can effectively boost consumer confidence.