It is not unusual to see growth tapering off in economies undergoing restructuring. FMTNews
BEIJING: China’s economy grew at its slowest rate in three decades in 2019, according to an AFP poll of economists, after a year marked by weaker domestic demand and a bruising trade war with the United States.
Analysts are forecasting 6% growth for the last three months of the year, the same as the previous quarter, with the official figure to be released Friday alongside the annual GDP result. Wu said that apart from the US-China trade war, which weighed on manufacturing and exports over the year, government stimulus measures had also taken a toll.
There are other positive signs on the horizon as well, Wu said, citing the US-China “phase one” trade deal due to be signed on Jan 15. And China’s growth may not have hit the bottom yet, according to Nomura analysts, given challenges such as worsening fiscal conditions, a cooling property sector and weakening exports.The data also showed that the trade surplus between China and the US, a major source of anger in the White House, narrowed 8.5% last year to around US$295.8 billion.
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