FXstreet.com (Barcelona) - National accounts for September confirmed that China’s economic growth decelerated for the seventh consecutive quarter. Real GDP growth eased to 7.4 per cent, in line with both our own forecasts and market expectations, and was the slowest pace in 31⁄2 years. However, quarter on quarter growth came in stronger than expected and revisions to previous quarters suggest the near- term growth momentum has actually improved.
Partial economic indicators for September were generally better than market
expectations. Year- ended growth in production, retail sales, fixed investment and exports all accelerated in the month and total social financing picked up as well.
The PBoC has been quiet on the policy front, preferring to rely on open market operations to manage liquidity conditions – the improved economic data and disruptions from the political transition imply that potential for additional policy easing has diminished.” writes the NAB Analyst Team.
Partial economic indicators for September were generally better than market
expectations. Year- ended growth in production, retail sales, fixed investment and exports all accelerated in the month and total social financing picked up as well.
The PBoC has been quiet on the policy front, preferring to rely on open market operations to manage liquidity conditions – the improved economic data and disruptions from the political transition imply that potential for additional policy easing has diminished.” writes the NAB Analyst Team.
