New Delhi | Jagran Business Desk: The world's second largest economy China gross domestic product (GDP) grew at 6 per cent in the fourth quarter of 2019 from a year earlier, official data showed on Friday. The country's GDP grew at 6.1 per cent in 2019, its worst performance since 1990 but still within government's target of 6-6.5 per cent. Analysts had expected it to expand 6.1 per cent, down from 6.6 per cent in 2018.
Ning Jizhe, commissioner of China's National Bureau of Statistics (NBS), said China's economy generally sustained a stable momentum of growth in 2019.
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"However, we should also be aware that the global economic and trade growth is slowing down," he said. "There were more sources of instability and risk, with the economy facing "mounting downward pressure," he added.
Analysts polled by Reuters had expected GDP to expand 6 per cent in the October-December quarter, hovering at the weakest pace in nearly three decades.
Facing sluggish demand at home and abroad and U.S. trade pressure, Chinese policymakers have been rolling out a stream of growth boosting measures over the past two years, while trying to contain financial and debt risks, reported Reuters
Its GDP grew at just 1.5 per cent in the fourth quarter from the previous three months as expected, the same pace as in the July-September quarter, the National Bureau of Statistics said.
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Meanwhile, the dollar scaled an eight-month high against the yen on Friday after upbeat U.S. retail sales and jobs data, while the yuan got a lift after China's economic data brightened the mood already cheered by a Sino-U.S. trade deal.
The figures of China is better than its neighbour India, i.e., reported to grow at 5 per cent in the last quarter.
(with Reuters input)