Daily News

1. China's GDP growth slows

New data shows China's economy is growing at its slowest rate in almost three decades as analysts suggest the ongoing trade war with the US is to blame.

China's National Bureau of Statistics released its GDP figures on Monday.

Recorded growth was 6.6 percent in 2018, which represents a 0.2 percentage point dip from the previous year. It marks the first time in two years that the world's second-largest economy has posted slowing annual growth.

The last time China reported a slower growth rate was in 1990. That's when its GDP increased by just 3.9 percent, due to the effects of the Tiananmen Square crackdown on the pro-democracy movement.

For last year's October-to-December quarter, officials say GDP grew 6.4 percent compared to the same period in 2017.

The Chinese government held back on infrastructure investment during 2018 to focus on reducing financial risks by curbing debt held by regional governments.

Trade woes with Washington put a dent on consumer spending. New car sales dipped below the previous year's level for the first time in 28 years.

Chinese officials have hammered out stimulus measures, including tax cuts. They also plan to increase investment in regional infrastructure.