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China's GDP expanded by 6.9% in Q3

Monday, Oct 19 2015
China's economy grew at its slowest pace since the global financial crisis in the third quarter, reviving expectations of further stimulus to avert a stalling of the world's growth engine. The world's second largest economy expanded by 6.9% in the July-September quarter, slowing from a 7% increase in the previous quarter. The numbers were still better than market expectations of 6.8%.
 
Industrial output in September rose 5.7% from a year earlier, compared with economists’ median estimate of 6%. Retail sales increased 10.9%, versus a 10.8% gain forecast for the month. Fixed-asset investment climbed 10.3% in the first nine months from the same period last year, compared to a median projection of a 10.8% increase. That’s the slowest pace of gains since 2000. 
 
The slower growth of both industrial production and fixed-asset investment prompted some economists to question the reliability of the GDP data. China affects the world more than ever, with Federal Reserve Chair Janet Yellen last month citing concern about China’s economy among reasons for holding off from raising interest rates. A record stretch of deflation at the factory level in China is also helping depress prices for manufactured goods globally.
 
Aussie is currently being trade around 0.7270 area. Pair is likely to find support around 0.7230 level and resistance above 0.7340 area. There will be no major data releases in the rest of the session.
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