In the third quarter, China recorded a slowdown in its economic growth with GDP falling to 7,3%, the lowest level for over 5 years. The figure communicated by the National Statistical Office was in any case better than expectations which predicted a drop to 7,2 per cent. In the second quarter, GDP stood at 7,5%.
The improvement in industrial production and confidence in the labor market has been counterbalanced by a new slowdown in the real estate sector and now there are questions about the possibility that Beijing will need to implement new stimulus measures.
Also because the expectation that the Chinese GDP will not be able to reach the 7,5% growth target set by the authorities for the whole of 2014 is strengthened: it would be the first time since 1999 that the GDP trend is lower than the official estimates .
On a quarterly basis, growth was 1,9% in the third quarter. In the single month of September, on an annual basis, industrial production recorded an increase of 8% (+7,5% expectations and +6,9% in August), while retail sales grew by 11,6% compared to +11,8% of expectations and +11,9% in August.
