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10/18, 4:12 AM (Source: TeleTrader)
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China's growth lands at 6% or 30-year low at least

An official statistical update for last month revealed only a slight disappointment with regard to projections of China's economic activity but the rate of growth at 6% on an annual scale was was last lower at least three decades ago. The slowdown in the expansion of gross domestic product in the third quarter, more difficult to compare with earlier times due to methodological issues, was 0.2 percentage points lower than in the three months through June. The pace narrowed by 0.1 points to 1.5% quarter on quarter.

The authors of the report estimated the situation from the start of the year as generally steady but complicated, with increasing uncertainties overseas and substantial downward pressure.

Retail sales jumped 7.8% on the year in September, an acceleration of 0.3 points. Industrial production outperformed, with an improvement of 5.8% or 1.4 points more than in the prior report.

Breaking the News / IT