China’s GDP Numbers: A Mixed Bag

China’s GDP Numbers: A Mixed Bag

by Anthony Fensom

In reporting Thursday 7.4 percent gross domestic product (GDP) growth for the third quarter, China’s National Bureau of Statistics met economists’ expectations despite recording its slowest expansion since 2009 and the seventh straight quarterly downturn.
However, annualized quarter-on-quarter growth grew to 8.8 percent in the third quarter compared with 8 percent in the previous quarter, boosting Beijing’s confidence in its ability to engineer a “soft landing” ahead of a once in a decade leadership transition.
Recently, both the International Monetary Fund and Asian Development Bank cut their 2012 growth forecasts for China, to 7.8 percent and 7.7 percent, respectively.http://thediplomat.com/pacific-money/2012/10/19/chinas-growth-numbers-something-for-everyone/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+the-diplomat+%28The+Diplomat+RSS%29