China’s GDP growth slumps to 27-year low amid trade war with US
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(Worthy News) – The Chinese economy has suffered a loss of momentum in the second quarter, with the GDP falling to 6.2 % from a 6.4 % expansion in the first three months of the year, figures released by the National Bureau of Statistics showed on Monday.
The growth rate, the slowest since at least 1992, reflects growing pressure on the world’s second-largest economy as a Sino-US trade war drags on and demand for Chinese goods slackens in the rest of the world.
“Economic conditions are still severe both at home and abroad, global economic growth is slowing down and the external instabilities and uncertainties are increasing,” said NBS spokesman Mao Shengyong. [ Source: Deutche Welle (Read More…) ]
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