China’s economic growth slows amid trade battle
BEIJING (AP) — China’s economic growth slowed further in the latest quarter, adding to challenges for communist leaders who are fighting a mounting tariff battle with Washington.
The government reported Friday the world’s second-largest economy expanded by 6.5 percent over a year earlier in the three months ending in September, down from the previous quarter’s 6.7 percent.
Forecasters expected China’s economy to cool after Beijing tightened credit controls to rein in a debt boom. But the slowdown has been deeper than expected, prompting Chinese leaders to reverse course and encouraging banks to lend.
Growth in retail spending and investment slowed, though to still-robust rates.
Exports have begun to weaken after President Donald Trump imposed tariff hikes of up to 25 percent on Chinese goods in a fight over Beijing’s technology policy.