Beijing publishes economic data in the context of a trade war with the United States



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A tour guide holds a panda umbrella in front of the Tiananmen Gate in Beijing, China.

Guang Niu | Getty Images

China on Monday released second-quarter figures indicating that its economy had slowed to 6.2%, the lowest rate in at least 27 years, while the country's trade war with the United States has had harmful consequences.

From April to June, the Chinese economy grew by 6.2% compared to last year, the country's statistics office announced Monday. This was in line with the analysts polled by Reuters.

Growth in the second quarter was the country's slowest pace since the first quarter of 1992, the first quarterly data ever recorded, according to Reuters.

The Chinese economy grew 6.4% from one year to the next in the first quarter of 2019.

For the first half of the year, China's GDP grew by 6.3% year on year.

The Chinese Bureau of Statistics said the economy was facing a complex situation with growing external uncertainties, Reuters reported.

The world's second economy is facing new downward pressures and will seek to ensure sustained economic growth, the statistics office said.

The trade dispute that has lasted several months between China and the United States weighs on its economy.

Data released Friday shows a contraction in Chinese exports in June compared to a year ago, due to rising US tariffs. Imports to China also fell sharply due to slower domestic demand.

There is fear of a global economic slowdown if the trade war between the United States and China persists.

The weak Chinese economic growth in the second quarter "could cause flickering in the rest of Asia if the slowdown fueled trade tensions," said Vishnu Varathan, head of strategy and economics for the company. 39, Asia and Oceania at Mizuho Bank.

With the slowdown in Chinese exports, "what is more worrying is an even more pronounced slowdown in Chinese imports." The effects of the supply chain on the rest of Asia are damaging, and China remains a market. major, "said Varathan in a note on Monday.

– Reuters contributed to this report.

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