China economy grew 6.9% in 2015, slowest pace in 25 years

(From Reuters)

China’s economy grew 6.9% in 2015, the slowest pace in a quarter century.

shanghai

The official figures released on Tuesday (Jan 19) confirm a loss of momentum in the world’s second-largest economy that is rippling around the world and spooking global financial markets.

The annual growth figure was slightly below the government’s target of around 7% but matched economists’ forecasts.

The economy grew 6.8% in the fourth quarter from a year earlier, matching expectations and the slowest since the global financial crisis, putting pressure on Beijing to roll out more support measures as fears of a sharper slowdown panic investors.

Analysts polled by Reuters had predicted Oct-Dec gross domestic product (GDP) growth of 6.8%, easing from 6.9% in the third quarter. It is the weakest pace of expansion since the first quarter of 2009, when growth tumbled to 6.2%.

 Chinese leaders have been struggling to put a floor under cooling activity, even as a renewed plunge in the country’s stock markets and the yuan currency have stoked worries that conditions in China may be rapidly deteriorating. Read More

 



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