China GDP grows at steady clip in Q3, but economists anticipate slowdown

Cornelia Mascio
Ottobre 19, 2017

China will report its GDP figures for the third quarter today.

The national economy has maintained the momentum of stable and sound development in the first three quarters, the agency said, and is expected to maintain medium-high rate of growth. Despite the slight decrease in economic growth, China remains well on track to meet its annual target of 6.5%.

China's statistics bureau will release third-quarter GDP on Thursday, along with September industrial output, retail sales and fixed asset investment.

"Unequivocally, the property boom has peaked", said Rosealea Yao, a property analyst at Gavekal Dragonomics.

At the same time, there are concerns about the state's growing role in the economy: the acceleration in year-on-year state investment growth outstripped private investment growth in September.

Analysts polled by Reuters expect gross domestic product (GDP) to have grown 6.8 per cent in the July-September period, cooling from the previous quarter's 6.9 per cent expansion.

The world's second largest economy is trying to rein in debt and contain a housing bubble without hurting growth.

Retail sales were up 10.3 percent on year, beating expectations for 10.2 percent and up from 10.1 percent in the previous month.

With year-on-year growth of 6.9% through the first three quarters of 2017, China is all but certain to exceed its full-year target of "around 6.5%".

Fixed-asset investment outside rural households-a key gauge of construction activity-climbed 7.5% in the first nine months from a year earlier, slowing from a 7.8% increase over the January-August period.

Data last week showed China's import and export growth accelerated in September, suggesting the economy is still expanding at a healthy pace.

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