They say a picture paints a thousand words, so here's 3000. Chinese Q3 GDP printed at 7.3% (all figures YY unless specified), above consensus for a decline to...

David Scutt

Scutt Partners

They say a picture paints a thousand words, so here's 3000. Chinese Q3 GDP printed at 7.3% (all figures YY unless specified), above consensus for a decline to 7.2% but still the slowest annual growth rate seen since Q3 2009. The unofficial GDP figure, power output, rose by 4.1%. Elsewhere it was a mixed picture with industrial production rebounding to 8.0%, well above the 6.9% reading of August, while retail sales and urban fixed-asset investment underwhelmed with increases of 11.6% (-0.3%) and 16.1% (-0.4%) respectively. Retail sales growth is now running at the equal-lowest level since February 2006 with the latter plumbing lows last witnessed in December 2001. On property, something that has garnered plenty of attention of late, home sales values and areas fell by 10.8% and 10.3% YTD, property sales values by 8.9% with new home construction by 9.3%. Bucking the trend was property development investment which rose 12.5%. (VIEW LINK)


David Scutt
David Scutt
Independent Market Strategist
Scutt Partners

David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest...

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