frontpage hit counter

China sets the mood

0

China’s economy grew by 6.9 percent on-year in the third quarter of 2015, a shade higher than the consensus forecast of 6.8 percent. While better than forecasts, growth was still the slowest since the quarter through March 2009, when the economy expanded by 6.2 percent.

In terms of sectors, the agriculture sector grew by 3.8 percent, while the secondary sector grew by 6 percent. The services sector grew by a comparatively more impressive 8.4 percent.

Manufacturing was the best performing subset, clocking a 7 percent increase, followed by a 3.3 percent increase for mining, and a 1.7 percent growth in electricity, heat, gas, and water subset.

Investments in infrastructure, a key facet of China’s efforts to prop up the economy after the global financial crisis, continued although the pace eased a bit from the first half of the year. Investments by state holding enterprises showed an increase of 11.4 percent, while private investments were up by 10.4 percent, accounting for 64.8 percent of the total investment.

After the Chinese data, the market will now focus on the upcoming ECB meeting. See here what to expect.

Share.

About Author