Chinese economic growth hits three-decade lowThe world's number-two economy has been hit by the US trade war and a slowdown in domestic demand. "However, we should also be aware that the global economic and trade growth is slowing down," he said at a news conference, adding that there were more sources of instability and risk, with the economy facing "mounting downward pressure". "The outlook for 2020 is for continued robust growth, boosted by the phase one trade deal with the US and the continued positive impact of government monetary and fiscal policy stimulus measures." But he noted a tailing off in the growth of infrastructure investment, which could prove problematic. Economists have long suspected that Chinese economic data is massaged upward, often noting that full-year gross domestic product hits Beijing's targets with suspicious regularity.

Source: Standard Digital January 17, 2020 08:43 UTC