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China’s GDP Growth Slows To 6.9 Percent

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China’s economic growth has slowed down in the latest quarter, the slowest since early 2009 in the aftermath of the global crisis, latest data say. The world’s second-largest economy grew by 6.9 percent in the three months ended in September, data showed on Monday. That was down from the previous quarter’s 7 percent.

Weakening trade and manufacturing have fuelled concern about possible job losses and unrest. The communist government has cut interest rates five times since last November in an effort to shore up growth.

However, consumer spending accelerated over the course of the quarter, helping to shore up the expansion. Growth in retail sales picked up from 10.5 percent in July to 10.9 percent in September. Spending on e-commerce grew by 36 percent in the third quarter over a year earlier.

“Continued downward pressures from real estate and exports caused  to drop,” said Louis Kuijs of Oxford Economics in a report. “But robust consumption and infrastructure prevented a sharper slowdown.” Much of China’s slowdown over the past five years is self-imposed as communist leaders try to steer the economy to more self-sustaining growth based on domestic consumption and service industry instead of trade and investment.

Aljazeera.

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JUST IN: ECOWAS Lifts Sanctions On Mali

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ECOWAS Countries

ECOWAS Countries

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US President, Donald Trump, Wife Test Positive For Covid-19

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Donald Trump and Melania
Donald Trump and Melania

Donald Trump and wife, Melania Trump

President of the United States, Donald Trump, and his wife, Melania Trump have both tested positive for COVID-19.

The President took to his official Twitter handle on Friday to make this announcement.

Trump was last seen in public on Thursday afternoon, returning to the White House after a fundraising trip to New Jersey.

Also Read: What I Told Trump When He Accused Me Of Killing Christians – Buhari

On Thursday, he announced that his aide, Hope Hicks tested positive for the virus which has killed over 1 million people around the world.

He further revealed that he and the first lady had taken the test and waiting for the results before announcing the outcome on Friday.

 

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Mali: N’Daw, Coup Leader Goita Sworn In As President, VP

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President of Mali, N'Daw, coup leader, Goita
President of Mali, N'Daw, coup leader, Goita

President of Mali, N’Daw, coup leader, Goita

Retired Army Colonel, Bah N’Daw has been sworn in on Friday as the interim president of Mali and he is to head a transitional government following last month’s military coup in the country.

The swearing-in ceremony held in the country’s capital city of Bamako, where Colonel Assimi Goita, who led the military junta, was also sworn in as interim vice president.

This administration is to lead the government for a maximum of 18 months before organising national elections.

Also Read: Buhari Attends Virtual ECOWAS Extraordinary Summit Over Mali Crisis

It will be recalled that the country’s military executed a coup last month (August 18) which successfully removed the nation’s president, Ibrahim Boubacar Keita from office.

Former President of Nigeria, Goodluck Jonathan, attended the ceremony alongside other members of the ECOWAS mediation team.

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