China: Economy Displays Renewed Growth Momentum in Q3

Consensus Economics blog

Following a lacklustre first half performance, the pace of growth appears to have picked up going into the second half of 2013. This is clearly demonstrated by the latest GDP report showing that activity accelerated at its fastest rate this year in the three months to September. Real GDP growth came in at 7.8% (y-o-y), markedly higher than the 7.5% pace registered three months earlier and the 7.7% posted in the first quarter. The latest GDP figure now takes growth for the first nine months of this year to around 7.7%, putting the economy firmly on track to hit the government’s target of 7.5% for 2013. Earlier in the year, the official growth target was considered to be under threat as the economy continued to lose momentum, but even if this figure is achieved it will be the slowest pace of expansion since 1999. Still, our panellists remain confident that…

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