China Q3 GDP Edges Down As Expected; Sep Output, Sales Strong

     BEIJING (MNI) - China's economy grew at a slightly weaker pace in the third

quarter, with real GDP rising 6.8% from a year earlier, the National Bureau of

Statistics reported Thursday.

     The result was in line with the 6.8% median estimate in a Market News

International Survey of 15 economists and the 6.9% GDP growth seen in each of

the first two quarters this year. 

     For the first three quarters of the year, GDP grew 6.9%, stronger than the

6.7% gain in the same period of 2016. 

     In addition, both industrial production and retail sales data for September

were  above market expectations, suggesting the economy was gaining momentum at

the end of  the third quarter. However, fixed-asset investment was slightly

lower than estimates.

     Industrial output increased by 6.6% y/y in September, above the median

estimate in the Market News survey for a gain of 6.5% y/y. Industrial output

rose by 6.0% y/y in August.  

     Retail sales in nominal terms rose by 10.3% y/y in September, compared with

10.1% growth in August and 10.7% a year earlier. The median estimate in the

Market News survey was for a gain of 10.1%.

     Fixed-asset investment for the January-September period increased by 7.5%

y/y, the NBS said, compared with a gain of 7.8% for the first eight months of

2017. The January-September result was below the MNI survey median expectation

for a 7.8% gain. 

--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com

--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com

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