China Q3 GDP and other data out earlier:

Some comments from around the place (via Reuters):

ZHANG YIPING, ECONOMIST, CHINA MERCHANT SECURITIES, SHENZHEN

  • The sluggish real estate investment is an important factor for the low GDP and now it will certainly raise more concerns on this industry
  • I think the government will boost the infrastructure industry to offset the impact of the weak real estate investment
  • expect GDP will rebound in the fourth quarter and manage to remain at 7 percent for the whole year

ZHOU HAO, SENIOR ECONOMIST AT COMMERZBANK IN SINGAPORE

  • Property investment failed to have a dramatic recovery while the retail sales were the only highlight
  • Government will probably lower the full-year growth target
  • I am expecting to see one interest rate cut and one to two reductions in RRR in the fourth quarter

OLIVER BARRON, CHINA POLICY RESEARCHER, NSBO, BEIJING

  • GDP beat is surprising
  • Monthly FAI and industrial production figures slowed considerably, and much faster than expected
  • Retail sales is holding up the data
  • I'm quite worried that real estate FAI fell 3.1 percent despite the improvement in funding
  • real estate investment is weak will hinder Q4 economic recovery
  • Nominal GDP slowed to 6.6 percent from 6.9 percent in the first half, consistent with the slowdown in monthly figures and persistent deflation

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Macquarie (via Bloomberg):

  • September industrial production worse than expected
  • Shows China needs more easing
  • Pressure on economic growth, especially in 2016
  • GDP as expected, though overall economic data in 3Q relatively weak
  • Sees RRR cut and more infrastructure spending in coming weeks