China's economic development dropped to lowest level since 1992
China's development fell to its lowest level in nearly thirty years as the world's second largest economy continues to experience the pain from trade tensions with the United States.
China's gross domestic product grew at 6% at the end of September, the weakest quarterly growth rate since 1992 and down from 6.2% in the previous year, according to government statistics released on Friday. It also missed the forecast of 6.1% growth displayed by analysts of Refinitiv.
The data appeared one week just after the United States and China reached a tentative trade truce to avoid more damages to the world's two largest economies.
Finest trade negotiators for the United States and China reached a preliminary trade deal last Friday. It includes an end on US tariff increases that were supposed to go into effect earlier this week. Trump also said to reporters that intellectual property, financial services and agricultural purchases are enclosed in the agreement.
But the two sides still appear to be far from striking any sort of comprehensive deal and the latest announcement doesn't address some of the biggest trade issues on the table.
http://lexatrade.com/news/chinas-economic-development-dropped-to-lowest-level-since-1992
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