Reuters have collated a few of the analysts comments on the China data
Earlier posts:
- China Sept data for Industrial Production, retail sales and investment
- China Q3 GDP 6.5% y/y (vs. expected 6.6%)
- China Statistics bureau says economic fundamentals sound
Some snippets via Reuters:
CBA:
- overall GDP growth for the quarter at 6.5 percent is bang in line with the Chinese target for the end of the year
- slowest since 2009, but it's a little bit mixed underneath and the consumer side looks a bit more positive than perhaps people expected
- We had certainty seen a weakening in net exports.
- There has been some front-loading with regard to exports in advancement of tariffs.
- full impact of tariffs probably won't come through until 2019
OCBC
- front-loading is still happening ahead of the tariffs and this is a continuing story
- It doesn't show the full impact of the trade war
- 2019 will be the year where we see the full brunt of the U.S. tariffs … downside risk is that growth may drop below 6 percent
NAB
- China is pulling on all the levers to support domestic demand in the face of this trade pressure
- a big acceleration in lending underway
- "On the yuan, they fixed it firm today given the move in the dollar. Clearly they don't want to let it go in a rush. We suspect they will let it past 7.00 in the first half of next year, if only because widening rate differentials with the U.S. will be dragging on inward investment."