China GDP grew 6.1% in 2019, slowest in three decades

News Image

MG News | January 17, 2020 at 11:01 AM GMT+05:00

0:00

January 17, 2020: China's economy weakened to its slowest pace in three decades in 2019 as weaker domestic demand and trade tensions with the United States took their toll, official data showed Friday.

The world's second-largest economy grew by 6.1 percent last year, its worst performance since 1990, according to the National Bureau of Statistics.

The figure matches an AFP analyst forecast and is within Beijing's official target of 6.0-6.5 percent. But last year's growth was down from 6.6 percent in 2018.

While China's economy had been gradually losing steam over the first three quarters, growth stabilised at 6.0 percent in the last three months of 2019 -- the same pace as in the third quarter, according to the NBS.

Ning Jizhe, commissioner of China's National Bureau of Statistics (NBS), said China's economy generally sustained a stable momentum of growth in 2019.

"However, we should also be aware that the global economic and trade growth is slowing down," he said at a news conference.

He added that there were more sources of instability and risk, with the economy facing "mounting downward pressure".

APP

Related News

Name Price/Vol %Chg/NChg
KSE100 136,502.54
259.91M
1.64%
2202.77
ALLSHR 85,079.90
838.35M
1.26%
1061.74
KSE30 41,552.62
97.27M
1.81%
738.33
KMI30 193,330.76
84.69M
0.39%
741.60
KMIALLSHR 56,315.31
366.02M
0.43%
243.06
BKTi 38,498.08
37.91M
4.13%
1526.33
OGTi 28,138.38
5.66M
-0.36%
-101.89
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,955.00 120,695.00
117,680.00
-2280.00
-1.90%
BRENT CRUDE 68.87 69.17
68.85
-0.34
-0.49%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.25
0.26%
ROTTERDAM COAL MONTHLY 106.50 106.60
106.50
-2.20
-2.02%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.59 66.99
66.56
-0.39
-0.58%
SUGAR #11 WORLD 16.31 16.67
16.27
-0.26
-1.57%

Chart of the Day


Latest News
July 15, 2025 at 06:16 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 14, 2025 at 05:26 PM GMT+05:00

Gold price in Pakistan rises Rs1,600 per tola


July 14, 2025 at 04:59 PM GMT+05:00

Tax reforms focus on public ease, transparency


July 14, 2025 at 04:23 PM GMT+05:00

PSX Closing Bell: Another One Bites the High



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg