21 Jan 2014
Flash: China economic update - NAB
FXstreet.com (Guatemala) - Gerard Burg, Senior Economis at the National Australia Bank noted that China’s latest national accounts represented a marginal slowdown.
Key Quotes
“China’s latest National Accounts data shows that the economy grew by 1.8% quarter on quarter in December, and 7.7% year on year – representing a marginal slowdown from the September quarter (when yoy growth was 7.8%).
“For the full year, China’s economy expanded by 7.7%, marginally below the rate of growth in 2012, and therefore the slowest rate of growth since 1999”.
“The slowing trend for China’s economy is expected to continue into 2014, as the government becomes increasingly focussed on its reform agenda”.
“There is speculation that the target could be cut to 7%, which would likely signal weaker growth prospects for the year. Our expectations remain unchanged at 7¼%”.
Key Quotes
“China’s latest National Accounts data shows that the economy grew by 1.8% quarter on quarter in December, and 7.7% year on year – representing a marginal slowdown from the September quarter (when yoy growth was 7.8%).
“For the full year, China’s economy expanded by 7.7%, marginally below the rate of growth in 2012, and therefore the slowest rate of growth since 1999”.
“The slowing trend for China’s economy is expected to continue into 2014, as the government becomes increasingly focussed on its reform agenda”.
“There is speculation that the target could be cut to 7%, which would likely signal weaker growth prospects for the year. Our expectations remain unchanged at 7¼%”.