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.