China’s economy grew by 6.2 percent in the second quarter of 2019, the Chinese government announced on Monday. The Chinese economy, the second largest economy in the world, has not grown so slowly since 1992.
The growth figures corresponded to the growth expectations of economists, who also assumed an economic growth of 6.2 percent. In the first quarter of this year there was still a growth of 6.4 percent. The Chinese economy is being hampered by the trade dispute with the United States. Consumers are also spending less and the production figures are at the lowest levels in years.
According to Beijing, production and store spending increased slightly in June, but analysts expect these numbers to be untenable. It is therefore expected that the Chinese government will provide further incentive measures.
The Chinese central bank already announced several measures to boost the domestic economy last year, including flexible capital requirements for banks to boost lending and tax cuts for small businesses.
The central bank also pumped another $ 83 billion into the economy in January and reduced taxes.
About the author: John Campbell
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