China’s GDP in Q3 of 2015 has slowed to 6.9% and as such is the worst it has been since March 2009. In Q1 and Q2 of this year the economic growth for the country stood just above 7% YoY. However, in Q3 the expectations has been set at 6.8%.
Industrial manufacturing growth in September was down to 5.7% from August’s 6.1% YoY. The indicator was expected to be at 6%.
The Chinese authorities are yet to panic despite the slowing of growth, believing the country’s economy is in a decent state of being. Although, this fall in the Chinese growth rate is causing many throughout the globe to become anxious; in particular, weak Chinese stats will put pressure on the commodities markets. There is not too much reason to be pessimistic, however. The slowing of growth in the Far East is due to weak growth throughout the world as a whole, partly as a cause of internal restructuring.
The Chinese government has actively supported their economy, repeatedly dropping rates and pumping in liquidity. If Q4 will be a lucky one, or at least more so than Q3, it’s possible that China’s 2015 growth could be set at 7% as the government had initially planned for.