According to Chinese government data, the Chinese economy grew at the slowest pace since 1990.
China on Monday announced that its official economic growth came in at 6.6 percent in 2018 — the slowest pace since 1990.
That announcement was highly anticipated by many around the world amid Beijing’s ongoing trade dispute with the U.S., its largest trading partner.
Economists polled by Reuters had predicted full-year GDP to come in at that pace, which was down from a revised 6.8 percent in 2017.
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.
There were a few bright spots in Monday’s batch of official Chinese economic data.
Industrial output grew 5.7 percent in December from a year earlier — beating economists’ expectations of 5.3 percent growth — outpacing November’s 5.4 percent growth.
One thing to keep in mind here is that the GDP could actually be lower. Many claims that China purposely lies about just how strong their GDP is.
The Bottom line is that China is feeling the effects of the Trade War while the American economy has not.
