「News of the Week」China Q3 GDP Growth Rate: 6.0%

WSJ – China’s economy grew 6% in the third quarter, landing right on the central government’s full-year baseline target for gross domestic product

国家统计局 National Bureau of Statistics of China  – 2019年三季度国内生产总值（GDP）初步核算结果

The percentage growth decrease is high anticipated. The expected value was at 6.1%.

Dots to connect:

• IMF’s other forecasts
  • cut China’s growth forecast to 6.1% from 6.2% for 2019, and 5.8% for 2020
  • cut India’s growth forecast to 6.1% from 7% for 2019, and 7% in 2020
  • Forecasts for the U.S. were cut by 0.2 percentage point to 2.4% annual growth in 2019; euro-area forecasts were cut 0.1 point to 1.2%
  • Global
    • July version: Global growth remains subdued. Global growth is forecast at 3.2 percent in 2019, picking up to 3.5 percent in 2020
    • October version: Global growth is expected to slow to 3 percent this year, picking up to 3.4 percent in 2020 (a 0.2 percentage point downward revision compared with April)
• China’s monetary policies and debt levels.
  • China’s central bank injects ¥200 billion market liquidity via MLF at 3.3%
  • China’s new LPR and interest rate policy
    • the PBoC cut the one-year LPR on August 20, from 4.31% to 4.25%; five-year LPR rate unchanged at 4.85%.
    • cut one-year LRP again on September 20, from 4.25% to 4.2%