Representative Image
Representative Image

China's quarterly economic growth slows to record low of six per cent

ANI | Updated: Oct 18, 2019 10:17 IST

Beijing [China], Oct 18 (ANI): Amid a trade war with the United States, China's economic growth dropped to a 27-year low in the third quarter of 2019.
According to government statistics released on Friday, China's Gross Domestic Product (GDP) grew at 6% in the quarter ended September, reported CNN.
This marks the weakest quarterly growth rate since 1992 and down from 6.2% in the previous quarter.
The report also noted that the 6 per cent economic growth in the third quarter was lower than analysts' forecast that expected the GDP to increase by 6.1 per cent.
The figures came just a week after China and the United States reached a tentative trade truce to avoid further damages to the world's two largest economies.
Last week, US President Donald Trump agreed to delay a tariff hike on Chinese goods and said China has promised to by up to $50 billion of American farm goods.
According to officials, the two countries are still working out details. (ANI)

iocl