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China’s Growth Slows to 6.9%
China says its gross domestic product expanded by 6.9% in the third quarter of 2015, its smallest growth rate since 2009.
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China says its gross domestic product expanded by 6.9% in the third quarter of 2015, its smallest growth rate since 2009. The country’s economy grew 7% in the second quarter.
Economists say the slowdown reflects China’s volatile stock market, cooling domestic demand, high debt and weaker export market.
Economists polled by The Wall Street Journal predicted third-quarter growth of 6.8%. The newspaper says the better-than-expected result for July-September is likely to revive debate about the accuracy of China’s economic statistics.
Still, China’s economy is almost twice as big as it was six years ago. The central government is targeting full-year growth of 7% this year.
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