BEIJING – China’s 2018 economic growth decelerated to 6.6 per cent after activity in the final quarter of the year declined amid a tariff battle with Washington.
Data announced Monday showed economic growth cooled to a post-global crisis quarterly low of 6.4 per cent in the three months ending in December from the previous quarter’s 6.5 per cent.
Chinese economic growth has been slowing since regulators tightened controls on bank lending in late 2017 to rein in a debt boom.
Growth held up through much of 2018 despite President Donald Trump’s tariff hikes on Chinese goods in a fight over Beijing’s technology ambitions. But exports contracted in December as the penalties began to dampen demand.
Growth in investment, retail sales and other indicators also slowed.