China’s last year GDP increased by 6.6%, the lowest growth rate over 28 years
China National Bureau of Statistics announced that the GDP in the fourth quarter of last year increased by 1.5% quarterly and 6.4% year-on-year as expected. However, the growth rate reached an all-time low since the 2008 financial crisis. Last year’s GDP grew by 6.6% year-on-year as expected, but this is the lowest GDP growth rate China has seen in the last 28 years.
Last December, the added value of industrial enterprises above designated size increased by 5.7% year-on-year, higher than the expected increment of 5.3%. As for the year of 2018, the value increased by 6.2% year-on-year as expected. Comparably, the total retail sales of consumer goods increased by 8.2% year-on-year in December and the annual value increased by 9%. In addition, the total fixed asset investment increased by 5.9% year-on-year, slightly lower than the expected 6%.