China is experiencing the weakest growth since 2009, in full trade war with the United States.



[ad_1]

The China's economic growth cooled in the third quarter at its weakest pace since the global financial crisis, at a time when Beijing's efforts to manage the risks of indebtedness and a trade war with the United States are starting to weigh.

Chinese authorities are trying to overcome many challenges after the fears of a tariff confrontation with Washington, they provoked a massive sell-off on local stock markets and a sharp fall in the yuan against the dollar.

The Chinese economy grew by 6.5% year-on-year in the third quarter, less than the 6.7% of the second quarter, announced Friday the National Bureau of Statistics.

Analysts polled by Reuters were expecting that gross domestic product (GDP) grew 6.6% in the quarter of July to September.

The GDP reading represents the weakest interannual growth since the first quarter of 2009, during the global financial crisis.

"The deceleration trend is strengthening despite the Chinese authorities' commitment to encourage domestic investment to support the economy." Domestic demand has proved weaker than exports unexpected, "said Kota Hirayama, an economist at SMBC, Nikko Securities in Tokyo.

On a quarterly basis, growth slowed to 1.6% from 1.7% to 1.7% in the second quarter, in line with expectations of a 1.6% expansion.

At the same time, Chinese industrial production rose 5.8% in September, which did not live up to expectations, while capital investment rose 5.4% in the first nine months of the year. year, above forecasts.

Infrastructure investment rose 3.3% year-over-year between January and September, slower than the 4.2% growth recorded in the first eight months of the year. # 39; year.

Retail sales rose 9.2% in one month in September, after a poor recovery after several months.

[ad_2]
Source link