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China's GDP Growth In 2018 Falls To Its Lowest In 28 Years


The Chinese economy has slowed down slightly for the fourth quarter when compared to a year ago period from weaker investment and hesitant consumer confidence piled by trade pressure from the US. Gross domestic product (GDP) for the December-ended quarter grew at the slowest pace falling to 6.4 percent from 6.5 percent in the third quarter, as per the data from the National Bureau of Statistics on Monday, leaving the economic growth in 2018 to be the weakest in 28 years (since 1990) at 6.6 percent.

China's GDP Growth In 2018 Falls To Its Lowest In 28 Years

The country's slowdown in growth was as expected considering the fall in economic activities after its trade conflict with the US. It has, however, raised concerns on risks to the world economy since China has been responsible for nearly one-third of the global growth in recent years. The easing GDP will weigh on the profits of major companies like electronic and car making businesses.

Reduced economic activity and rising signs of unemployment calls for a need for further support measure from the Chinese policymakers that are currently battling trade pressure from the US. As the country's government works towards revival, most analysts are expecting things to get worse before they get better.

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