China's Economic Growth Slows, Misses Annual Target

Why it matters locally: South Carolina's trade with China, particularly in manufacturing and agricultural goods, could see indirect impacts from a slowdown in China's economic growth and weakening demand for imports.

China's economy expanded at a slower rate than anticipated, missing its official annual growth target. Weak domestic demand within the country played a role in this economic performance. The conflict in the Middle East also affected oil prices, which influenced China's economic activity. Strong export figures did not fully offset the effects of these challenges. Analysts observed the country's economic expansion did not meet the government's set goal for the year.