FOREX TradingCharts.com

Financial News: China GDP Growth Weakest Since 1992

China GDP Growth Weakest Since 1992

10/18/2019 - 03:21:00 (RTTNews)

(RTTNews) - China economy expanded at the slowest pace in nearly three decades in the third quarter amid subdued investment, industrial production and domestic demand, data from the National Bureau of Statistics showed Friday.

Gross domestic product expanded 6 percent year-on-year in the third quarter after rising 6.2 percent in the second quarter. This was the slowest growth since 1992 and below the expected rate of 6.1 percent.

The economy grew 6.2 percent during January to September period. The government targets 6-6.5 percent growth for the full year.

The International Monetary Fund forecast China's growth to slow to 6.1 percent this year and to 5.8 percent next year.

Data showed that industrial production advanced 5.8 percent annually after rising 4.4 percent in August and 4.8 percent in July. Output was expected to climb 4.9 percent.

Similarly, annual growth in retail sales increased to 7.8 percent, in line with expectations, from 7.5 percent in August.

During January to September, fixed asset investment grew 5.4 percent, which was slightly slower than the forecast of 5.5 percent increase.

Real estate investment increased 10.5 percent in January to September, the same pace of growth as seen in the first eight months of the year.

The unemployment rate remained unchanged at 5.2 percent in September, data revealed.

The domestic economy is under downward pressure but growth will remain in a reasonable range, the statistical office said.

Pressure on economic activity should intensify in the coming months, Julian Evans-Pritchard and Martin Rasmussen, economists at Capital Economics, said.

Cooling global demand will continue to weigh on exports, fiscal constraints mean that infrastructure spending will wane in the near-term and the recent boom in property construction looks set to unwind, the economists noted.

The economists expect monetary policy to be loosened before long in response, but it will take time for this to put a floor beneath economic growth.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Bulgaria GDP Growth Retains Momentum In Q3 (01 hr(s), 59 min(s), 26 sec(s) ago)
(RTTNews) - Bulgaria's economic growth continued at a robust pace in the third quarter, suppor ...Full Story»

Poland GDP Growth Improves In Q3 (02 hr(s), 06 min(s), 26 sec(s) ago)
(RTTNews) - Poland's economy expanded at a faster rate in the third quarter, flash estimates f ...Full Story»

Slovakia Economic Growth Slows In Q3 (02 hr(s), 13 min(s), 26 sec(s) ago)
(RTTNews) - Slovakia's economic growth slowed in the third quarter, flash estimates from the s ...Full Story»

U.S. Producer Prices Rebound Along With Energy Prices (02 hr(s), 18 min(s), 26 sec(s) ago)
(RTTNews) - After reporting an unexpected decrease in producer prices in the previous month, the L ...Full Story»

Portugal GDP Growth Stable At 1.9% (02 hr(s), 21 min(s), 26 sec(s) ago)
(RTTNews) - Portugal's economy grew at a stable rate in the third quarter, supported by privat ...Full Story»

Hungary Economic Growth Remains Solid In Q3 (02 hr(s), 30 min(s), 26 sec(s) ago)
(RTTNews) - Hungary's economy grew at a robust pace in the third quarter, supported by industr ...Full Story»

U.S. Weekly Jobless Claims Climb To Highest Level Since June (02 hr(s), 37 min(s), 26 sec(s) ago)
(RTTNews) - A report released by the Labor Department on Thursday showed first-time claims for U.S ...Full Story»

Czech Economic Growth Slows In Q3 (02 hr(s), 40 min(s), 26 sec(s) ago)
(RTTNews) - The Czech economy expanded at a slower pace in the third quarter, preliminary estimate ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Bulgaria GDP Growth Retains Momentum In Q3

11/14/2019 - 09:45 AM (RTTNews)
(RTTNews) - Bulgaria's economic growth continued at a robust pace in the third quarter, suppor ...Full Story>>

Poland GDP Growth Improves In Q3

11/14/2019 - 09:38 AM (RTTNews)
(RTTNews) - Poland's economy expanded at a faster rate in the third quarter, flash estimates f ...Full Story>>

Slovakia Economic Growth Slows In Q3

11/14/2019 - 09:31 AM (RTTNews)
(RTTNews) - Slovakia's economic growth slowed in the third quarter, flash estimates from the s ...Full Story>>

U.S. Producer Prices Rebound Along With Energy Prices

11/14/2019 - 09:26 AM (RTTNews)
(RTTNews) - After reporting an unexpected decrease in producer prices in the previous month, the L ...Full Story>>

Portugal GDP Growth Stable At 1.9%

11/14/2019 - 09:23 AM (RTTNews)
(RTTNews) - Portugal's economy grew at a stable rate in the third quarter, supported by privat ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.