China’s economy is likely to have clocked its worst quarter in more than five years, according to a CNNMoney survey of economists.
Gross domestic product is forecast to have expanded by 7.2% in the third quarter, compared to the same period last year, according to a median estimate of 15 economists. That puts economic growth at its slowest pace since the first quarter of 2009, and well short of 7.5% expansion in the second quarter.
Economists surveyed expect full-year growth to come in at 7.3%, below the government’s 7.5% target. Economic growth is forecast to dip further to 7% in 2015. The National Bureau of Statistics will announce official third quarter GDP figures on Oct. 21.
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