China's GDP growth grinds to near 30-year low as tariffs hit production

BEIJING - China’s third-quarter economic growth slowed more than expected and to its weakest pace in almost three decades as the bruising U.S. trade war hit factory production, boosting the case for Beijing to roll out fresh support.

Asian stocks stumbled after the data, reversing gains made on the UK and European Union striking a long-awaited Brexit deal. In a briefing after the GDP data release, Mao Shengyong, a spokesman for China’s statistics bureau, announced Beijing’s plans to bring forward some 2020 special local government bond issuance to this year, in a move to spur regional infrastructure investment.

Mao from the statistics bureau said there was ample room to change monetary policy, as rising consumer inflation has been mainly driven by volatile food prices. The uptick was in line with signs of increased domestic orders, though overall demand remains at historically weak levels. Analysts had expected industrial output to grow 5.0% in September.

The signs of a global economic slowdown spotlights Trumps trade policy! Now on to recession because America under Trump we are winning!

Don’t worry, Xi Jinping will fix it.

FightForFreedom

As in the past, China will be hurt by high unemployment.

Yes but still too good from almost all other countries in this planet 🌎.

Therefore the reason for the seemingly unending global recession will someone tell the Zulus about this.

realDonaldTrump will be proud

hit them again

Fake news, only west want hear and believe it

'In 2018, the U.S. investments made in China were valued at approximately 117 billion U.S. dollars.' yay Go tariffs!!

NBA could learn a thing or two from actually standing up to China. Trump did it, why can't you?!

About time, they need to be stopped

Hope india will not suffer due to tariff war, or it is too early to tell. Howdy Modi may salvage such a crisis.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil prices steady, all eyes on data seen showing China GDP growth slowdownOil prices were stable on Friday ahead of data that analysts say could show Chin...
Source: Reuters - 🏆 2. / 97 Read more »

China third-quarter GDP grows 6%, slowest pace in almost three decadesChina's economic growth slowed more than expected to 6.0% year-on-year in t... China is a shady place. No transparency. No one knows what going on in there.
Source: Reuters - 🏆 2. / 97 Read more »

Instant View: China third-quarter GDP grows 6.0% year-on-year, misses expectationsChina's economic growth slowed more than expected to 6.0% year-on-year in t... China's economy will fall further BoycottChina SayNoToChina StandUpToChina Actually just 3.2 % around what is the UK grow rate, I guess not positive
Source: Reuters - 🏆 2. / 97 Read more »

Instant View: China third-quarter GDP grows 6.0% y/y, misses expectationsChina's economic growth slowed more than expected to 6.0% year-on-year in t... Of the economies with a total volume of more than 100 billion US dollars, this speed is the fastest. Time to celebrate? And the U.S. is forecasting 1.5? Who's winning the trade war?
Source: Reuters - 🏆 2. / 97 Read more »

Oil dips as China posts slowest GDP growth in almost three decadesOil prices fell on Friday after China, the world's largest oil importer, re... The Chinese foreign ministry said it has detained two American citizens who run an English-teaching business in China, a development that comes amid rising diplomatic tensions and a broader trade war between the two countries.
Source: Reuters - 🏆 2. / 97 Read more »

Asian shares slump after weak China GDP, pound retreatsAsian stocks stumbled on Friday, erasing earlier gains after China posted its we... Well, well, well... winning again
Source: Reuters - 🏆 2. / 97 Read more »