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Chinese growth slows, but on track to beat targets – business live

China’s GDP expanded by 6.8% over the last year, as investors await the latest healthcheck on Britain’s retail sector

8.56am BST

Finnish economist Iikka Korhonen suggests that China’s growth rate is suspiciously consistent, despite remarkable volatility in business spending, factory output and retail sales.

#China September
retail sales +9.3% yoy
industrial production 6.6%
fixed investment 0.0%
GDP 6.8%
(forecasting GDP=draw a straight line?) pic.twitter.com/H4mTy3xMem

#China Fixed Asset Investment (YTD) year-on-year at 7.5% https://t.co/MQfB0k66aY pic.twitter.com/guY7vo2I0s

China data day!
GDP Y/Y 6.8% (est 6.8%, prev 6.9%)
Retail sales 10.3% (10.2%, 10.1%)
IP 6.6% (6.5%, 6%)
Fixed asset YTD 7.5% (7.7%, 7.8%) pic.twitter.com/hfUXyHHQxz

8.46am BST

Financial experts are often sceptical about China’s growth figures, arguing that they could be manipulated by officials to produce a number to Beijing’s liking.

But on face value, today’s Q3 GDP report looks fairly impressive.

Property Sales finally showed some signs of slowing in response to the curbs, and while govt spending on infrastructure and some inventory building were key contributors to growth, it is also increasingly obvious that the Services sector (particularly the tech sector) is increasingly becoming a, if not the, primary driver of growth, i.e. signalling that the economy is actually rebalancing.

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