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China's economy grows 5.2% in Q4, misses expectations
China missed its fourth-quarter GDP estimates on Wednesday, with GDP for the last three months of 2023 rising 5.2%, according to the country's National Bureau of Statistics. That's below the 5.3% forecast. GDP growth for the full year was also 5.2% - representing one of the worst years of growth since 1990 as recovery shows signs of stalling, Shares are tumbling across the board with Hong Kong plunging 3%. The country has also resumed reporting the unemployment rate for young people. The rate for people aged 16 to 24 came out at 14.9% The bureau had temporarily suspended the release of those figures in the summer, citing the need to reassess calculation methods. That unemployment rate had previously climbed to records above 20%.
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