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The global fashion business journal

Sep 21, 20202:45am

China weakens: grows 6% in third quarter, its worst historical record

The Gross Domestic Product (GDP) of the Asian country has slowed its growth rate compared to the previous two quarters, when it rose 6.4% of 6.2%, respectively.

Oct 18, 2019 — 4:00pm
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China weakens: grows 6% in third quarter, its worst historical record

 

 

Chinese economy loses strength. The Gross Domestic Product (GDP) of the Asian country has grown 6% in the third quarter, the worst result since March 1992, when it officially started to be accounted.

 

China’s GDP maintained the trend of previous quarters. Between January and March, the country’s economy advanced 6.4%, to slow its pace and registered a 6.2% growth in the second quarter, according to data from the National Statistics Office.

 

The moderate advance of the Chinese economy is below that predicted by analysts, that stood at 6.1%. In the nine months until September, the country has registered an increase of 6.2% over the same period of the previous year, up to 69,780 million yuan (9.8 billion dollars).

 

 

 


However, despite slowing its pace, the evolution of the Chinese economy is in line with the goal set by Beijing, which estimated a growth of between 6% and 6.5% for the period. Industrial production in the country increased by 5.6% in the first nine months of 2019, compared to the 6.2% increase registered during the same period of the previous year.

 

Retail sales in the country, meanwhile, also slowed down between January and September, with a growth of 8.2% compared to the increase of 9.3% in 2018. At the same time, the Consumer Price Index (CPI) grew 3% in the period and foreign trade rose 2.8%.

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