Asian markets were mixed on Monday, 15 July 2019, as data showed China's economy growing at its weakest pace in nearly three decades, hit by the US trade war.
The world's number-two economy expanded 6.2 per cent in April-June, the worst reading since the early 1990s, the country's statistics bureau said on Monday. The reading highlights the negative impact the US tariffs stand-off is having on China as leaders also try to recalibrate the growth model from exports and state investment to one driven by consumer spending.
Tariff hikes by President Donald Trump have battered Chinese as well as U.S. exporters, and Chinese leaders have increased spending and loosened controls on bank lending to keep growth within this year's range of 6% to 6.5%.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
