China’s Economic Growth Slows During US Trade Fight

China’s Economic Growth Slows During US Trade Fight

On a quarterly basis, GDP in the third quarter grew 1.6 percent, compared with growth of 1.8 percent in April-June, the National Bureau of Statistics said.

"The trend of slowdown is strengthening despite Chinese authorities' pledge to encourage domestic investment to support the economy". This is the weakest quarter since 2009 and below economists' forecasts.

He told CNBC: "China can not be growing at 6.6-6.7 percent every quarter because of the fact that they're starting to de-leverage and also for the fact that you've got a trade dispute going on with the Americans".

It said the pace was in line with market expectations and higher than the government's annual growth target of around 6.5 percent.

Before the latest growth figures, economists had expected China's full-year growth to come in at 6.6% this year and and 6.3% next year.

Consumer spending in China has been falling, according to some economic data, putting.

But following the data, some say growth could slow even more dramatically next year.

So far exports to the United States have held up but economists expect trade frictions to weigh on growth in the coming months and into next year.

Usain Bolt Turns Down Two-Year Offer To Play For Valletta
Mariners coach Mike Mulvey, however, was reluctant to talk about Bolt on Thursday, insisting he was not involved in negotiations.

China releases second-quarter GDP on Friday, along with September industrial output, retail sales, property sales and investment, and fixed asset investment data.

Infrastructure investment rose 3.3 percent year-on-year for Jan-Sep, slower than 4.2 percent growth in the first eight months of the year.

Retail sales, a window into Beijing's aim to get consumers spending to drive the economy, expanded 9.2 percent for the month compared with a year ago, from 9.0 percent in August and ahead of estimates.

Faced with a cooling economy, stock market wobbles and a yuan currency under pressure, policymakers are shifting their priorities to reducing risks to growth by gradually easing monetary and fiscal policy.

The central bank has cut reserve requirements for lenders four times this year, with the latest cut taking effect on October 15, injecting more liquidity to stimulate bank lending.

Markets are being pummelled by concerns over the economy, the escalating trade standoff with the United States and an official crackdown on excess debt leveraging in the financial system.

"Exports have not deteriorated yet but China's trade will likely shrink due to China-US trade conflicts", SMBC Nikko Securities' Hirayama said.

Related News:



Most liked

Facebook concedes that Portal device data can inform targeted ads elsewhere
Facebook has recanted the claim made by an earlier report that Portal can not collect data to target users with ads on Facebook. Aside from making video calls, the Portals can display photos and play music and videos.

Pressure turns to Mexico as migrant caravan heads for border
As about 3,000 Hondurans made their way through Guatemala, attention - and pressure - turned to Mexico Thursday after U.S. President Donald Trump threatened on Thursday to close the U.S. -Mexico border if Mexico does not stop the migrants .

George Lopez Gets in Brawl With Trump Supporter At Hooters
Additionally, at a charity event previous year , Lopez allegedly was booed off stage for continually joking about the president. Lopez was supposedly in the area filming the movie " Walking with Herb ". "Here comes my boy, George", he says.

Porsche Taycan Price to Land Somewhere Between Cayenne and Panamera
The Cayenne is Porsche's bestselling model in India and rivals the likes of the Range Rover Sport and the BMW X5 M in our market. The e-Hybrid version draws power from a 3.0-litre V6 mill coupled with an electric motor delivering 462bhp and 700Nm of torque.

Xiaomi Mi Mix 3 Leaked With 10GB RAM & 5G Support
Recently, a new version of the Oppo Find X was leaked with 10GB RAM but it was later revealed that no such device was planned. But the Mi Mix series has been consistently surprising, and can't wait to find out what Xiaomi has dreamt up this time.

Google Maps Gets Real Time Journey Tracking on iOS
A grandparent heading out to a new destination, for example, can be monitored by someone to ensure they get help if lost. As far as the kinds of trips that can be shared are concerned, these are driving, walking, and cycling navigation.

Apple will host major event at Brooklyn Academy of Music
Reporters were emailed invitations to the event on Thursday, which featured colourful, artistic renderings of the Apple logo. Apple doesn't usually launch new products in NY , often opting for a venue closer to its home base in Cupertino, California.

Trump pulling USA out of global pact on postal rates
The Universal Postal Union sets rates that national postal services charge for shipping small parcels to other countries. The US Chamber of Commerce has said this treaty, "leads to the United States essentially paying for Chinese shipping".

Fears of further Orthodox Church rifts after Russia-Constantinople split
He continues the procedure of granting of the Tomos of autocephaly of the Ukrainian Orthodox Church. It was previously rented by one of the branches of Ukraine's split Orthodox Church.

Tesla: Tesla secures land in Shanghai for its first factory outside USA
However, Tesla has said that it will take 2-3 years to construct it, and another 2-3 years to get it running at full potential. Much of the cost will be funded with "local debt" the letter said.

State Dept Denies Claims Pompeo Heard Audio Related to Khashoggi Disappearance
It is unknown whether Pompeo shared the transcript with the president, but soon after the meeting the president changed his tune. In his column, Khashoggi criticized the worldwide community for ignoring the ongoing abuses by governments in the Middle East.

Eddie Jones Names 36-Man England Squad For Autumn Internationals
The players feel the support and we can't wait to get out there and play in front of 82,000 against South Africa'. Jones also announced flyhalf Owen Farrell and hooker Dylan Hartley as co-captains of the side.

Meghan Markle Wears Bump-Hugging Dress on Royal Tour
But, being the professional she is, she added she's doing "pretty well so far". She was still sobbing when she spoke to Channel Nine after the moment.

Samsung Electronics: Samsung Electronics buys network analysis firm Zhilabs in 5G push
The acquisition, according to Samsung, is about helping the company get better prepared for the era of widespread 5G availability. Samsung Electronics has announced its acquisition of Zhilabs, a company that offers AI-based network and service analytics.

Trump praises congressman who assaulted reporter
Even though the incident drew considerable attention, Gianforte defeated his Democratic opponent the next day. Donald Trump praised Congressman Gianforte and called him "an incredible Montana leader".