Research Team at BBH, notes that China, the world's second-largest economy expanded by 1.8% in Q3 for a 6.7% year-over-year pace.
“It is spot on expectations and is the third quarter at this reported pace. The GDP estimate sapped the interest from the September industrial output (6.1% vs. 6.3% in August) and retail sales (10.7% vs. 10.6% in August).
Perhaps the real takeaway from both the Chinese data and the fact that the dollar is holding above what was previously believed to have been the dollar's cap (~CNY6.7) is that there is not a takeaway. In August 2015 and again at the start of this year, the global capital markets appeared to be driven by events in China. This has ceased to be the case. It is not the focus or linkages cannot be reestablished, but rather it is to appreciate that events in Beijing are not among the key drivers now.”
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