Comments from China’s National Bureau of Statistics (NBS) deputy chief:
- September economic indicators showed improvement.
- China’s foreign trade is stronger than expected this year.
- The foundation for economic recovery is still weak.
- There will be a faster rollout of various policy measures.
Recent data from China indicates new home prices have dropped at the fastest rate since 2015:
Q3 GDP results:
- China’s Q3 GDP grew by 4.6% year-on-year (expected was 4.5%) and 0.9% quarter-on-quarter (expected was 1.0%).
- This is slightly better than expected year-on-year.
Retail sales and industrial output also performed better than anticipated:
The improvements noted occurred before the ‘stimulus’ announcement on September 24, which was somewhat disappointing. China may consider these results as evidence that the stimulus was adequate.