China’s GDP growth likely slowed by 0.2% to 6.8% – MUFG

By FXStreet FXStreet (Delhi) – Lee Hardman, Currency Analyst at MUFG, suggests that the the loss of Chinese growth momentum will be revealed in the release next week of the Q3 GDP report which is expected to reveal that the annual rate of real GDP growth slowed by 0.2 percentage point to 6.8%.

Key Quotes

“The Economic Information, a newspaper affiliated to the state-run Xinhua news agency has reported overnight that the Chinese government may lower its annual GDP growth target to 6.5% for the next five years.”

“The government is currently targeting real GDP growth of around 7% for this year. The new plans reportedly take into account the consideration of the current slowdown and lay out institutional party reform plans. A meeting of the Plenum has been scheduled from the 26th to 29th October. Risks still appear skewed to the downside for the government’s new reported growth target for the coming years.”
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Source:: FX Street