China's economic growth slows to 30-year low

by Jordyn Pair · Jan 17th, 2020 11:38 am

Last Updated Jan 17th, 2020 at 1:29 pm

China's economic growth slowed to the lowest it has been in 30 years, slipping down to 6.1 percent. Although the number is still within the government's target range of six to 6.5 percent, some private-sector economists warn that it could slip even further this year.

Economists calculate the U.S.-China trade war, coupled with slower global growth, shaved 1 percentage point off the GDP figure.

The country is still growing faster than the global average, which clocks in at three percent expansions. China's GDP for 2019 was $14.23 trillion, roughly the equivalent of adding an Indonesia-sized economy to China's.

China's average growth rate between 1978 and 2017 was 9.5 percent.