The Chinese economy advanced 6.0 percent year-on-year in the December quarter of 2019, the same as in the previous quarter and matching market expectations. This remained the weakest growth rate since the first quarter of 1992, amid trade pressure from the US and sluggish demand from home and abroad. Considering full 2019, the economy grew by 6.1 percent, the slowest pace in 29 years but still within the government's target of 6 to 6.5 percent. In 2020, the economy is expected to remain under pressure. Although the Phase One trade deal with the US eased trade tensions and increased business optimism, existing tariffs will remain in place and further monetary easing will be needed to boost domestic demand. GDP Annual Growth Rate in China averaged 9.36 percent from 1989 until 2019, reaching an all time high of 15.40 percent in the first quarter of 1993 and a record low of 3.80 percent in the fourth quarter of 1990. source: National Bureau of Statistics of China
GDP Annual Growth Rate in China is expected to be 5.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in China to stand at 5.80 in 12 months time. In the long-term, the China GDP Annual Growth Rate is projected to trend around 5.60 percent in 2020, according to our econometric models.