Laura He, CNN Business –
China’s economic growth has slumped to its lowest level in nearly three decades as the world’s second largest economy feels the effects of a prolonged trade war with the United States.
The country’s gross domestic product grew at 6.2% in the quarter ended June, the slowest quarterly growth rate since 1992 and down from 6.4% in the previous quarter. And the Chinese economy will continue to face “downward pressure” in the second half of this year, the country’s National Bureau of Statistics said in a statement:
“The Chinese economy is still in a complex and grave situation,” it said. “Global growth has slowed and external uncertainties are on the rise.”