China Has Growth at 6.7% for Last 3 Quarters

China’s pace of economic growth is on a remarkably steady run.

For the past three quarters, the world’s second largest economy has grown at exactly the same rate — 6.7%. Economists polled by CNNMoney expect China to make it four in a row when it reports fourth quarter data on Friday.

The stability of the numbers has been “uncanny,” analysts at Capital Economics wrote in a research note this month.

Doubts about the accuracy of Chinese economic statistics have been around for years and were compounded this week when the governor of a major industrial province admitted officials there had been falsely inflating data for years.

China’s growth for the whole year is, naturally, forecast to hit 6.7% as well. The figure happens to fall right in the middle of the 6.5% to 7% range China set for itself at the start of 2016.

It’ll be the slowest pace at which China’s economy has grown in more than 25 years, slightly below the 6.9% it clocked in 2015. But it’s a lot stronger than some doom-mongers had predicted at the start of last year, when fears of a sudden collapse in Chinese growth sent global markets into a tailspin.

via CNN

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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 has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. 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