China: Gradual slowdown set to roll on – RBS

Sandeep Kanihama FXStreet Contributor

Analysts at the Royal Bank of Scotland note that China’s gradual slowdown continued in Q3 with GDP rising 6%y/y, the slowest pace since at least the early 1990s.

Key Quotes

“Tariffs are biting (exports fell 3.2% in September) but there’s a squeeze at home, too. Relatively tight credit conditions are keeping investment subdued. Meanwhile consumers are feeling the pinch. Inflation notched up to 3% last month (it was just 1.7% back in January). A bout of African swine fever has pushed pork inflation to almost 70%! To cap it off the IMF downgraded the country’s growth forecast for 2020 to 5.8% from 6%. The gradual slowdown looks set to roll on.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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