China GDP grows 6% in fourth-quarter, in line with analyst estimates

17.01.2020 - Evdokimov Roman
China GDP grows 6% in fourth-quarter, in line with analyst estimates

China released its fourth quarter GDP for 2019, showing an economic growth of 6% compared to last year. Official data showed that the Chinese economy maintained last quarter’s pace as expected by analysts.

GDP was estimated to grow by 6% in the October-December quarter, stalling at the shortest pace in twenty-nine years.

As China faced weak demands both locally and abroad amid trade pressure, policymakers launched growth-boosting activities in the past two years while maintaining control financial and debt risks.

China, the world’s second largest economy rose 6.1% in 2019, fitting in the government’s target range of 6-6.5% despite falling in the slowest growth in 29 years. Analysts estimated economic growth at 6.1%, from the 6.6% estimate in 2018.

Data showed that GDP increased by 1.5% in the fourth quarter compared to the past three months, as expected to follow the pace of the July-September quarter, said National Bureau of Statistics.

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