China posts slowest quarterly growth for 27 years
17/07/2019
Commentators were quick to point to the effect on China’s economy of the country’s ongoing trade dispute with the US, but the government in Beijing said on reporting the quarterly figures that factory output and retail sales data for the month of June offered signs of encouragement.
Growth in the first quarter of the year was higher at 6.4%. With trade tensions with the US continuing, the Chinese government has predicted overall growth of between 6% and 6.5% in the second half of 2019.
The government has said it will use financing tools to support smaller firms. Car production has continued to decline, but dealers across China are offering discounts to consumers in an attempt to move built-up inventory.
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