China 2019 Growth Weakest In Nearly Three Decades

Yearly Growth Lowest In 29 Years
Yearly Growth Lowest In 29 Years

In the whole year 2019, China's gross domestic product grew 6.1 percent, which was well within the official target of 6-6.5 percent, data from the National Bureau of Statistics showed on January 17. In 2018, the economy grew 6.6 percent.

This was the weakest expansion since 1990 and was slower than the 6.2 percent growth economists had forecast.

China's growth for 2019 was the fastest among the leading economies and matched the projections of the International Monetary Fund and the World Bank.

“The negative direction of travel by China's economy may have been abated,” ING economist Robert Carnell said.

“But 2020 will likely be about stabilization, rather than "recovery".”