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China Economic Data News - October Review 2014
After a recent announcement by the Bank of China that they will be making available $32.5bn in 3 month loans to several of its mid-sized banks, key data on GDP growth has been released.
Over the past few months figures out of China have been somewhat contradictory and this months 3rd quarter GDP data is no different.
Growth for the 3rd quarter of 2014 was seen at 7.3%, below the 7.5% target but far higher than expected and still its worst performance in 6 years. Growth has been the major talking point for China of late and there are fears that China's slowdown could be affecting the global economy far more than previously thought.
Factory Output increased significantly. Output increased 8% over September 2013 and that recovery from Augusts terrible 6.9% could raise some red flags. This will no doubt be added to the recent spate of confusing data which one week points to expansion and the next to stagnation.
China is faces major hurdles in its attempt to change from an export based economy to one driven by domestic demand. As its expanding middle class look to solidify their status, the government is still trying to keep many of its old philosophies alive whilst looking to continue with its relatively new Capitalistic ways.
If they do manage to change their economy to a domestically driven one, then we can expect a turnaround in export and import figures and they will start to come in line with forecasts. One thing that could play into China's hands is the recent sanctions imposed on Russia and the opportunities that have arisen from the West's current political policies.
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DISCLAIMER The views, opinions, findings, and conclusions or recommendations expressed on this service are those of the author(s) and do not necessarily reflect the views of the Hexagon Capital Management. All market data within this release is for your general information and enjoys indicative status only. Hexagon Capital Management does not accept any responsibility for its accuracy or for any use to which it may be put. All share prices and market indexes delayed at least 15 minutes. 52 week high and low values are calculated from close price data.
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