China’s economic growth slipped to 6.4 per cent in the fourth quarter, the lowest rate since the global financial crisis but still good enough to exceed the government’s full-year target of 6.5 per cent.
Chinese gross domestic product growth has slowed for three consecutive quarters, prompting concern among global investors that China could drag the global economy downward. For the full year, growth was 6.6 per cent. China’s statistics bureau on Friday revised full-year growth for 2017 down to 6.8 per cent from the previous figure of 6.9 per cent.
US tariffs on Chinese exports have not directly inflicted major damage on the country’s gross domestic product, the data released on Monday show. But economists and corporate executives say the trade conflict has taken a heavy toll on sentiment, leading to a slowdown in consumer spending and capital expenditure.