Caixin
Jan 23, 2019 07:48 PM
ECONOMY

Eight Local Governments Forecast Economic Slowdowns

Of the eight regions predicting slowdowns in economic growth, the northern port city of Tianjin set the lowest target for growth this year. Photo: VCG
Of the eight regions predicting slowdowns in economic growth, the northern port city of Tianjin set the lowest target for growth this year. Photo: VCG

Eight provincial-level regions including Beijing have predicted slower economic growth this year after many failed to reach their 2018 targets, in the latest sign of a worsening economic outlook for the world’s second largest economy.

The downbeat forecasts come as China’s economic growth has lost steam amid a debt-control campaign, a trade war with the U.S., and weak business sentiment nationwide. The country’s gross domestic product (GDP) grew 6.6% last year, marking the slowest annual expansion since 1990.

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