China's Q3 GDP meets expectations, retail sales beats consensus by small margin
|China's YoY GDP figures for the third quarter of 2016 came at +6.7% vs +6.7% exp and 6.7% previous, with the QoQ reading for Q3 coming at +1.2% vs +1.8% exp and +1.8% last.
With regards to retail sales YoY, the number was in +10.7% vs 10.6% exp and 10.6% last, with industrial output YoY at 6.1% and 6.4% exp and 6.3% last. Meanwhile, urban investment YoY stood at +8.2% vs 8.2% expected and 6.1% last.
Infrastructure investment, financed by fiscal expansion, was a major contributor to this quarter's flat reading. Private sector investment remains one of the main challenges limiting growth in China. Going forward, judging by today's data, the macro economic policies are likely to remain expansionary to support growth in the country.
China's bureau of statistic said the 'economy is better than expected'.
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