THE annual economic growth of China slowed for a seventh straight quarter in
the period of July-September. It was recorded to the weakest level since the
profundity of the global financial crisis, thus reinforcing the case for further
policy stimulus.
The median forecast reveals that China's economy to
expand 7.4 percent in the third quarter from a year earlier, down from 7.6
percent in the second, and the slowest expansion since the first three months of
2009, when growth slid to 6.6 percent.
It showed that growth in the
world's second-largest economy will slow further in the third quarter before
regaining some momentum in the final quarter as the impact of earlier policy
easing steps fully kick in.
The third-quarter GDP growth to weaken
further from Q2 as the impact from a mix of policy measures that have been
rolled out since the second quarter might be delayed towards the end of the
year. The government is likely to step up its policy fine-tuning, but we don't
expect any aggressive policy steps.
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