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China's GDP growth slows below forecasts to 6.5pc in third quarter

23/10/2018

THE Chinese economy grew slightly slower than expected between July and September, according to the National Bureau of Statistics, posting gross domestic product growth of 6.5 per cent.

Analysts polled by Reuters forecast the figure to come in at 6.6 per cent, slowing from 6.7 per cent in the second quarter. The government's annual GDP growth target for 2018 is 6.5 per cent.

This is the weakest year-on-year quarterly growth pace since the start of 2009 in the wake of the global financial crisis. Economists have anticipated that trade war threats and a widespread softening of economic activity borne out in recent data will begin to drag down China's headline growth figure.

In sequential terms, the economy grew 1.6 per cent during the quarter, down from 1.8 per cent in the April-June period.

Source : shippingazette.com