China’s economy grew at its slowest quarterly pace in a year during the July–September period, as a persistent decline in the housing market and trade tensions hurt demand.
China’s economy expanded by 4.8 percent in the third quarter from the same period last year, according to data released by the National Bureau of Statistics on Oct. 20.
The performance was in line with economists’ expectations, but it represents a slowdown from the growth of 5.4 percent and 5.2 percent recorded in the first two quarters of the year, respectively.
A spokesperson for the National Bureau of Statistics pointed to “a complex and severe external environment” and economic restructuring pressures as key factors behind the slowdown. Still, the spokesperson struck a confident tone, adding that “there are still many favorable conditions to achieve the annual growth target.”…
China’s Economy Grows at Slowest Pace in a Year
