China's growth has slumped to 6.2 per cent in the second quarter of this year, its lowest level in nearly three decades, the government said Monday, as the world's second largest economy feels the pinch of a bruising trade war with the US and weak global demand. The Gross Domestic Product (GDP) growth slid from 6.4 per cent in the first quarter of 2019, according to government data released on Monday.
While the slowdown to 6.2 per cent is a 27-year low, it raised concerns as the once resilient Chinese economy did not dip below 6.4 per cent even during the 2009 world economic crisis during which the largely export dependent country came under heavy pressure due to the steady fall in its foreign trade.
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China's growth has slumped to 6.2 per cent in the second quarter of this year, its lowest level in nearly three decades, the government said Monday, as the world's second largest economy feels the pinch of a bruising trade war with the US and weak global demand. The Gross Domestic Product (GDP) growth slid from 6.4 per cent in the first quarter of 2019, according to government data released on Monday. While the slowdown to 6.2 per cent is a 27-year low, it raised concerns as the once resilient Chinese economy did not dip below 6.4 per cent even during the 2009 world economic crisis during which the largely export dependent country came under heavy pressure due to the steady fall in its foreign trade.