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China records lowest economic growth in 45 years
China records lowest economic growth in 45 years

Coronavirus has affected the global economy to a great extent. Asian country China  has recorded the lowest economic growth in four decades as it grew by 2.3 per cent.

According to the latest data provided by the National Bureau of Statistics on Monday the dragon country has recorded the lowest economic growth in four decades.  According to the statistics bureau coronavirus pandemic is the reason behind a slow economic growth. South China Morning Post reported that the country's growth rate last year was the lowest since the nation's economy "shrank by" 1.6 per cent in 1976.

Sputnik reported the NBS report as saying, "According to preliminary estimates, China's GDP in annual terms in 2020 amounted to 101.598 trillion yuan [about $15.68 trillion], an increase of 2.3% over the same period last year." The economy of China grew only 0.7 per cent in the first three quarters of 2020 (decreasing 6.8 per cent in the first quarter and growing 3.2 per cent in the second quarter and 4.9 per cent in the third quarter).

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