China Q3 GDP: +7.3% y/y …. bit better than expected

  • expected +7.2% y/y
  • prior was +7.5%

A tick better than was expected but down on the prior quarter.

AUD and Kiwi both jumped.

Both into the zone of seller orders

  • China economy expanding now at at its slowest pace since the GFC
  • At 7.3%, it’s the weakest since Q1 of 2009 (when it rose 6.6%)

ps. It 0.1% better than expected, so by all means crack open a champagne, but probably not any bigger than a Magnum, K?

The official target is 7.5% …. but that is looking increasingly ‘flexible':