Chinese Economy Registered Slowest Growth of 27 Years
The Chinese economy grew at the slowest pace in 27 years in the second quarter of 2019 as the country logged a growth of 6.2 per cent, the National Bureau of Statistics said on Monday.
The damaging trade with the US could have been one of the reasons proving to be a drag on the world’s second-largest economy.
China’s GDP rose 6.2 per cent in the April-June which was below 6.4 per cent in the first quarter, the Bureau said.
Beijing is locked in a protracted trade spat with Washington which has taken a toll on its economic health. Even though Beijing’s officials are busy hammering out a trade deal with their US counterparts, it is known how long it will take clinch the deal.
The Bureau said the economy is faced with a complex situation amid the rising external uncertainties,
It also added that there was a new downward pressure on the economy.