China's economy grew 6% in fourth quarter as demand stabilized [Business News Network (BNN) Energy & Resources (Canada)]
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Source: Business News Network
China's economy grew 6% in fourth quarter as demand stabilized China’s economy stabilized last quarter after slowing to the weakest pace in almost three decades, with the first acceleration in investment since June signaling that a firmer recovery could be underway. The world’s second-largest economy expanded by 6.1 per cent in 2019, slower than 6.6 per cent the previous year but in line with the government’s target. The signing of the phase-one trade deal with the U.S. this week combined with recovering global demand has improved the outlook for Chinese factories and exporters in 2020, though uncertain implementation of that deal and domestic financial fragility remain risks. Chinese stocks inched higher and the offshore yuan gained, trading at US$6.8715 at 10:48 a.m. in Shanghai. Industrial output rose 6.9 per cent in December from the same period the previous year, versus the median forecast of 5.9 per cent. Some of that may be due to the effects of Chinese New Year. That holiday
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