The Chinese economy continued to slow towards the end of 2018; growing at just 6.6% and posting the lowest expansion in over 28 years.
“China on Monday announced that its official economic growth came in at 6.6 percent in 2018 — the slowest pace since 1990,” writes CNBC. “That announcement was highly anticipated by many around the world amid Beijing’s ongoing trade dispute with the U.S., its largest trading partner.”
“Fourth quarter GDP growth was 6.4 percent, matching expectations. That was a decline from the 6.5 percent year-over-year growth in the third quarter of 2018,” adds the article.
The economic report comes just hours after Beijing unveiled a potential trade deal with the United States; vowing to increase imports and eliminate the US-China trade deficit by 2024.
Read the full report here.