Thursday, 19 October 2017

China economy grew 6.8% between July and September according to official data



China's economy grew 6.8% between July and September according to official data released Thursday, slowing slightly from the previous quarter.

 
The growth rate, which compares expansion with the same three months in the previous year, met forecasts.


The latest GDP figures are still above Beijing's annual growth target of 6.5% for 2017.


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


Those efforts are expected to have weighed on economic activity in some parts of China, but growth has been supported by higher-than-expected rise in trade and bank lending.
The result followed growth of 6.9% in the first and second quarters of the year.


"A less supportive fiscal policy stance and slower credit growth should result in a slowdown over the coming months," said Capital Economics China economist Julian Evans-Pritchard.





BBC     News.