China’s economic growth slips to 17-year low in August

This trade war brought China's economic growth to a 17-year low of 4.4% in August.

China's economic growth
China into a full blown economic crisis. Source: Times of India.

The world economy is at a crisis due to the US-China trade war. Not only America and China were affected by this trade but other countries were also affected. But it has had a major impact on China’s economy. This trade war brought China’s economic growth to a 17-year low of 4.4% in August. July saw China’s growth rate of 4.8%.

The National Bureau of Statistics (NBS) has released data on China’s industrial production, mining, manufacturing, and other utilities sectors.

The retail sales growth in August was 7.5% compared to 7.6% in July. In addition, the growth of fixed-asset investment slowed to 5.5% in the first eight months of 2019. Private businesses in the state’s sectors also lagged in the sixth straight month.


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