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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessQ3 GDP & September Monthly Data Prints Due Tomorrow
A reminder that China Q3 GDP prints tomorrow. The market expects a decent rebound from the fall in Q2. Q/Q growth is expected at +2.8% (versus -2.6% in Q2), while would take the y/y pace to 3.3% from 0.4%. Also out is the monthly run of activity indicators - IP, retail sales, fixed asset investment and the jobless rate.
- The range for q/q GDP estimates is 2.5% to 4.4%. A positive outcome is no surprise, as Shanghai emerged from lockdown conditions, which hit Q2 growth.
- Still, given the deterioration in survey numbers at the end of Q3, such as PMI prints, the market may not get too excited by any bounce.
- For September IP, the market expects a further improvement to 4.8% y/y from 4.2%.
- For retail, 3.1% y/y is forecast against a 5.4% gain last month. This would be in line with weaker services PMI readings for September, with the Chengdu lockdown weighing.
- Fixed asset investment is expected to improve slightly to +6.0% ytd y/y from 5.8%, although property investment is still forecast to remain weak at -7.5% ytd y/y versus -7.4%. Finally, the jobless rate is forecast to edge down to 5.2%, against 5.3% in August.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.