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Hong Kong, Oct 20 (AP) China's economy expanded at the slowest annual pace in a year in July- September, growing 4.8 per cent, weighed down by trade tensions with the United States and slack domestic demand.
The July-September data was the weakest pace of growth since the third quarter of 2024, and compares with a 5.2 per cent pace of growth in the previous quarter, the government said in a report Monday.
In January-September, the world's second largest economy grew at a 5.2 per cent annual pace. Despite US President Donald Trump's higher tariffs on imports from China, the country's exports have remained relatively strong as companies shifted their sales to other world markets. (AP) RUK RUK
Economic slowdown driven by trade tensions and weak domestic demand, despite exporters shifting to alternative markets. Economic growth slowed in the third quarter as headline expansion moderated to a lower annual pace due to a combination of external trade frictions and soft domestic demand. Trade tensions and tariff measures disrupted patterns and created uncertainty for exporters, who shifted sales toward alternative markets, while weak consumption and investment amplified the quarter's deceleration. Year-to-date growth remained stronger than the quarter, showing partial resilience but not offsetting the slowdown; the main drivers are trade tensions, slack domestic demand, and adaptive export strategies.Press 'Enter' after typing page number.