Third-Quarter GDP Steady but Might Not Improve in Q4
China's gross domestic product (GDP) growth was steady at 6.7% for the third quarter as the country shifted from an investment-driven economy to one that is consumption-focused. But the pace of growth was the slowest it has been since the second quarter of 2009, and economists said the trend is unlikely to improve by the end of the year.
GDP growth might stabilize at 6.7% in the last quarter, but it will be hampered by a potentially softer property market, which has been restricted by a variety of cooling measures, Liu Liu and Yi Huan, economists at the macro research team of China International Capital Corp. (CICC), told Caixin.
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