China Q3 GDP exceeds consensus
- China Q3 GDP: +3.9% Y/Y vs. +3.4% consensus, +0.4% prior (revised).
- +3.9% Q/Q vs. +3.5% consensus, -2.7% prior (revised).
- This was the strongest quarterly growth since the second quarter of 2020.
- Exports: +5.7% Y/Y vs. +4.1% consensus, +7.1% prior.
- Imports: +0.3% Q/Q vs. +1.0% consensus, +0.3% prior.
- China trade balance rose to $84.74B from $79.39B, beating estimates of $81B.
- Industrial production: +6.3% Y/Y vs. +4.5% consensus, +4.2% prior.
- Retail Sales: +2.5% Y/Y vs. +3.3% consensus, +5.4% prior.
- This was the lowest growth recorded in 4 months.
- House prices: -1.5% Y/Y vs. -1.3% prior.
- China's National Bureau of Statistics has delayed the release of quarterly GDP, monthly retail sales, property sales and fixed-asset investment figures amid the 20th National Congress of the Communist Party of China.
- Yesterday, Xi secured historic third term, shuffled leadership line-up.
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