China is still struggling to fix its demand problem — and that's bad news for the likes of Apple and Tesla

• China's economy expanded by a better-than-expected 5.3% in the first three months of 2024.
• But analysts are flagging sluggish home and retail sales as a sign of weak demand.
• The slowdown could hit the bottom line of big US companies such as Apple and Tesla.

Economic data gave Beijing a glimmer of hope on Tuesday — but beneath the veneer of China's quarterly GDP numbers, there are still plenty of reasons for concern.