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Friday, 18 January 2019 15:00

China's growth set to slow in 2019

China's growth set to slow in 2019

China’s economy is expected to cool further this year as domestic demand weakens and exports are hit by U.S. tariffs, a Reuters poll showed on Thursday, reinforcing views Beijing will need to roll out more stimulus measures, Caspian Energy News (www.caspianenergy.net) reports with reference to Reuters.

The world’s second-largest economy got off to a strong start in 2018, but pressure soon built as a crackdown on riskier lending pushed up borrowing costs and made it harder for smaller companies to get funding, spurring record bond defaults.

At the same time, the escalating dispute with the United States saw both sides slap tariffs on each other’s goods, disrupting China’s trade sector and weighing on Chinese business and consumer confidence. Slowing demand global is heightening those export pressures.

China’s economic growth is expected to slow to 6.3 percent this year, which would be the weakest in 29 years, from an expected 6.6 percent in 2018, according to median forecast of 85 economists Reuters polled. The economy expanded 6.9 percent in 2017.

Both forecasts were unchanged from the October poll.

More details: https://www.reuters.com/article/us-china-economy-poll/chinas-growth-set-to-slow-to-63-percent-in-2019-more-stimulus-seen-reuters-poll-idUSKCN1PB0AZ

Person in charge of the newsline: Olga Nagiyeva 

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