China Q3 GDP 6.5% y/y (vs. expected 6.6%)
Third quarter economic growth data from China
6.5 % y/y
- expected +6.6% y/y
- prior was +6.7%
- slowest since Q1 of 2009 (ps don't go getting too saddened by this, at 6.5% y/y its the envy of much of the world)
For q/q, 1.6%
- expected 1.6%, prior 1.8%
Data continues its long, long run of being +/-0.1% of the central estimate.
A slight miss for Q3 GDP and down on Q2.
Chinese authorities have already begun cranking out the responses to the slow down (they've had plenty of warning it was coming from the US ratcheting up tariffs etc):
- looser monetary policy
- lower currency
- fiscal boost
Expect continuing, and more.