Concerns over slowing growth in China
21/01/2019
On releasing the figure, the director of China’s national statistics bureau, Ning Jizhe, pointed out that this still means China’s economic growth rate is considerably higher than those of the US, the European Union or Japan. However, all commentators pointed out immediately that 6.6% is the lowest annual growth rate that China has recorded since 1990.
Growth in retail sales reached 8.2% in December 2018, up from 8.1% in November, which was the lowest rate in 18 years. This points to failing consumer confidence, analysts have said, fuelled at least in part by trade tensions with the US.
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