China GDP grew 6.1% in 2019, slowest in three decades

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PHOTO: Wikimedia Commons/ Mstyslav Chernov [CC BY-SA (https://creativecommons.org/licenses/by-sa/3.0)]

BEIJING — China’s economy weakened to its slowest pace in three decades last year as weaker domestic demand and trade tensions with the United States took their toll, official data showed Friday (Jan 17).

The world’s second-largest economy grew 6.1 per cent in 2019, the slowest in 29 years but still within the government’s target of 6 to 6.5 per cent. Analysts had expected it to expand 6.1 per cent, down from 6.6per cent in 2018.

While China’s economy had been gradually losing steam over the first three quarters, growth stabilised at 6 per cent in the last three months of 2019 – the same pace as in the third quarter, according to the National Bureau of Statistics (NBS).

 Read more: https://www.channelnewsasia.com/news/business/china-gdp-2019-economy-growth-expectations-three-decades-low-12271012
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