China’s Economy Great at 6.7% Annual Rate in September

China’s economy grew at an annual rate of 6.7% in the three months to September, government data showed, a sign that growth is stabilising.

The figure was the same rate as the previous two quarters, and was in line with forecasts.
The spell of stability will reassure investors after China’s markets and currency crises earlier this year sparked fears of a further slowdown.

China’s economic performance has a big knock-on impact around the world.

Full year growth for 2016 is still likely to be weaker than last year’s, which was already the slowest in 25 years.
“The general performance was better than expected,” the National Bureau of Statistics said in a statement when releasing the data on Wednesday.

The figure is in line with Beijing’s growth target of 6.5%-7% for the year.

via BBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza