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China third quarter growth misses expectations

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China has reported its slowest quarterly growth rate since the global financial crisis. The growth figure for the July to September quarter was 6.5% from a year earlier, the National Bureau of Statistics said. The result fell short of Reuters analyst forecasts of 6.6%.

Policymakers have moved to support the cooling economy in recent months.

China faces rising economic challenges including high debt levels and an intensifying trade battle with the US.

The impact of the trade dispute with the US is expected to weigh on growth figures in the coming months.

Last week’s growth figure was the slowest quarterly expansion since the first quarter of 2009 – the height of the global financial crisis.The result was also a drop from the 6.7% rate in the prior quarter, but remains in line with the government’s full-year target of about 6.5%.

While China watchers advise caution with Beijing’s official GDP numbers, the data is seen as a useful indicator on the country’s growth trajectory.

 

Source: BBCB

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