Posted by: youngragingbull | October 18, 2012

China’s GDP slows in Q3, monthly September data beats estimates

China’s economy grew 7.4% for the third quarter compared to a year earlier, slowing from 7.6% in the previous three months, but several key September data points showed improvement, the government reported Thursday.

The gross domestic product growth was in line with expectations reported in separate Dow Jones Newswires and Reuters surveys and marked the slowest growth since early 2009.

September retail sales gained 14.2%, accelerating from August’s 13.2% result and beating a 13.2% forecast from the Reuters poll.

September industrial production advanced 9.2% from the year-earlier period, improving from 8.9% in August and beating a 9.0% forecast from Dow Jones Newswires and Reuters.

Stocks moved slightly off their highs following the numbers, with the Shanghai Composite up 0.5% compared to a 0.7% rise before the data. The Hang Seng Index traded 0.4% higher, easing from a 0.6% gain.

Source: MW

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