-
GDP Dropped For China And U.S. Amid Trade War, While Consumer Spending Remained Solid
As the Sino-American trade war dragged on last year, it weighed on both the U.S. and Chinese economies (as noted in this CNBC analysis): GDP growth has slowed, manufacturing declined and trade volumes decreased, while the bright spots that remain include solid consumer spending, steady jobs and rallying stock markets. • Since the trade war started in July 2018, GDP growth has slowed in both the U.S. and China, down to 2.1% and 6%, respectively, as of the latest quarterly statistics. • If tariff pressures continue, or if U.S. and Chinese domestic growth slows further in 2020, “that would likely cause the ... (full story)