Stay updated with breaking news from Mo Ji. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
BEIJING—China’s economic growth is sinking under pressure from a construction slowdown and power shortages, prompting warnings about a possible shock to its trading partners and global financial markets. The world’s second-largest economy grew by a weaker-than-expected 4.9 percent over a year ago in the three months ending in September, down…
Construction, an industry that supports millions of jobs, is slowing as regulators force developers to cut reliance on debt that Chinese leaders worry is dangerously high.
The world’s second-largest economy grew by a weaker-than-expected 4.9% in the three months to September.
China’s economy grew only 4.9% in the last quarter, down from 7.9% in the previous quarter. The slower growth is likely caused by limits on energy usage and parts shortages that have hampered manufacturing.