Home Business News China economy hit by growing pressures

China economy hit by growing pressures

by LLB Reporter
15th Jul 19 8:37 am

China’s economy stuttered in the second quarter,growing at its slowest pace since the early 1990s.

In the three months to June, the economy expanded 6.2% from a year earlier. It comes as China boosted spending and delivered tax cuts.

Experts have warned that China’s trade war with the US might further hit businesses.

The country is also fighting a trade war with the US which has hurt businesses and weighed on growth.

Edward Moya, senior market analyst at Oanda, said the latest economic data “shows the slowdown remains intact and markets should expect further stimulus” from China’s central bank later this year.

The US-led trade war is another factor weighing on growth.

“The trade war is having a huge impact on the Chinese economy, and with no end sight as trade negotiations struggle for meaningful progress, we are probably not near the bottom for China’s economy,” he said.

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