The world’s second-biggest economy expanded 6.6%, according to official data published Monday. That’s the weakest annual performance since 1990.
Growth slowed to 6.4% in the fourth quarter of 2018, in line with economist’s predictions.
The Chinese economy has lost momentum following government efforts to try to rein in high levels of debt. It has also started coming under pressure from the trade war with the trade war with the United States, which has resulted in new tariffs on more than $250 billion of Chinese exports.
China’s economic growth is expected to drop closer to 6% in 2019. But many analysts are skeptical about the accuracy of the government figures and say growth may be significantly lower in reality.
This is a developing story.
Source : Nbcnewyork
