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China’s 2Q Economy Expands 6.6%
China’s gross domestic product expanded 6.7% in April-June, according to government data.
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China’s gross domestic product expanded 6.7% in April-June, according to government data.
The rate compares with 6.8% growth in the first quarter. Oxford Economics says the slower pace reflects less robust global trade and tighter government economic policies. The Economist Intelligence Unit adds that weak domestic investment and cooling consumer spending also contributed.
Those factors, coupled with the impact of the escalating trade war between China and the U.S., are expected to dampen China’s growth rate in the second half of 2018.
Last week Reuters estimates that the U.S. trade deficit with China climbed to a record high $29 billion in June. China’s trade surplus with the U.S. rose to $134 billion in the first half of the year compared with $118 billion in January-June in 2017.
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