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Economic Buzz: China GDP Expands At Slowest Pace Since 1990
17-Jan-20   11:40 Hrs IST

China's economy expanded at the slowest pace since 1990 as cooling domestic demand and property investment amid trade wars with the United States weighed heavily on growth last year. In the whole year of 2019, gross domestic product grew 6.1 percent, which was well within the target of 6-6.5 percent, data from the National Bureau of Statistics showed Friday. Nonetheless, this was the weakest expansion since 1990 and slower than the expected 6.2 percent. Moreover, growth moderated from 6.6 percent in 2018. China's growth for 2019 matched the projections of the International Monetary Fund and the World Bank.

In the fourth quarter, gross domestic product climbed 6.0 percent year-on-year, the same rate as seen in the third quarter and in line with expectations. The 6 percent was the lowest in nearly three decades.

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