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November 2018
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Tuesday, 16 October 2018 13:00

China's GDP growth seen hitting lowest since 2009

China's GDP growth seen hitting lowest since 2009

According to the Reuters poll of 68 economists, China’s third-quarter growth is predicted to slow to its weakest pace since the global financial crisis, Caspian Energy News (www.caspianenergy.net) reports with reference to Reuters.

Domestic demand has been faltering in recent months as U.S. President Donald Trump’s campaign to force China to make sweeping changes to intellectual property, industrial subsidy and trade policies start to depress export earnings.

The poll showed gross domestic product likely grew 6.6 percent in July-September from a year earlier, slowing from the previous quarter’s 6.7 percent and hitting the weakest pace since the first quarter of 2009.

The predicted third-quarter growth would still be higher than the government’s full-year target of around 6.5 percent.

“The downward pressure on the economy is relatively big as consumption weakens and infrastructure investment has yet to stabilize” from a slowdown, said Tang Jianwei, senior economist at Bank of Communications in Shanghai.

More details: https://www.reuters.com/article/us-china-economy-gdp/trade-war-cost-chinas-third-quarter-gdp-growth-seen-hitting-lowest-since-2009-reuters-poll-idUSKCN1MQ0D1

Person in charge of the newsline: Olga Nagiyeva 

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