 The world's largest economy showed an annual expansion rate of 4.7% in the second quarter, much weaker than the 5.3% growth in the first quarter and lower than the 5.1% expected by financial markets. China's annual retail sales growth slowed to 2% in the second quarter of 2024, so that's down from 3.2% in Q1, and it marks an 18-month low as businesses have been forced to slash prices on everything from cars to food and clothes.