Publicado: Sol, Octubre 20, 2019
Financiera | Por Marilu Caballero

China's Economic Growth Dips to New Nearly Three-Decade Low

China's Economic Growth Dips to New Nearly Three-Decade Low

China's economy grew at the slowest rate in 27 years in the third quarter, official figures showed Friday, as the country grapples with a protracted trade war with the United States and slowing domestic demand, AFP reported.

China's value-added industrial output, an important economic indicator, expanded 5.6 percent year on year in the first three quarters, the National Bureau of Statistics (NBS) said Friday. The 2019 growth rate falls within the government's annual goal of between 6 and 6.5%, but with a marked slowdown compared to previous years.

China's economy is being hit on three fronts: The US-led trade war, slowing demand at home and rising domestic challenges including the outbreak of swine fever that has dealt a huge blow to its pork farmers.

The strength of the Chinese economy is closely watched as slowing growth can have far-reaching consequences for the global economy.

"We feel that the global economy and global trade are increasingly moving towards reducing protectionism and. freedom", he said.

The NBS also released other economic data on Friday, including retail sales, which rose 8.2 per cent year-on-year in the first three quarters of 2019, a significant decline from the 9.3-per cent growth recorded in the first three quarters of 2018. That helped to drag down overall Chinese exports by 1.4 percent.

Julian Evans-Pritchard, senior China economist at Capital Economics, said pressure on the Chinese economy "should intensify in the coming months".

The US and China have just lately signalled some indicators of progress towards resolving the bruising commerce conflict, with either side reaching a "phase one deal" earlier this month.

Schwartzman eliminado en Amberes — Tenis
Sin embargo, tras dos horas y 41 minutos, terminó despidiéndose de un certamen en el que supo ser finalista en 2016 y 2017. Copil (92) eliminó ayer en la ronda inicial al argentino Federico Delbonis (77) tras vencerlo por 6-4 y 7-6 (7-3).

The slowdown has global repercussions, depressing Chinese demand for industrial components from its Asian neighbors, soybeans and other food from Brazil, Australia and other suppliers and other commodities.

Developed economies will be "considerably weaker" this year due to trade tensions and "increased uncertainty on confidence and investment", the International Monetary Fund said in a report. Officials say the two sides still are working out details.

But the biggest impact on growth appears to come from weakening domestic activity including factory output, investment and consumer spending.

Much of this was down to slowing demand from overseas, as the trade war weighs on Chinese production.

Investment "is being held back by trade war uncertainties", said Adams of PNC.

The country has become a key engine of growth in recent decades.

Earlier data showed China's exports fell 3.2 percent in September from a year ago, while imports dropped 8.5 percent during the same period, which reflects weaker demand at home and overseas.

Me gusta esto: