China’s economy grew at a slower quarterly pace than expected, expanding 6.5 per cent in the three months ended September, as the country’s trade war with the US exacted a toll on exporters and manufacturers….
China’s economy grew at a slower quarterly pace than expected, expanding 6.5 per cent in the three months ended September, as the country’s trade war with the US exacted a toll on exporters and manufacturers.
The quarterly growth pace lagged the 6.6 per cent expected in a Bloomberg poll of economists, and was slower than the 6.7 per cent clip in the second quarter, according to data released by the National Bureau of Statistics in Beijing.
The latest quarterly data shows the world’s second-largest economy is feeling the impact of its trade war with the biggest global market of its products. The Chinese economy had been able to keep growing within a range of between 6.7 per cent and 6.9 per cent every quarter for the last three years.
“The economy has grown within a reasonable range in the first three quarters of the year,” the statistics bureau said in a press statement.
