Elliot Clarke, Research Analyst at Westpac, explains that despite challenging circumstances, China’s economy continues to grow at a robust pace, benefitting the nation broadly, but particularly households. Key Quotes “Annual growth was in line with the market’s expectation at 6.7%. In keeping with the ‘quality growth’ focus (which, in large part, is about improving consumers living standards), consumption was the key support for growth. In year-to-date terms, consumption added 5.3ppts to annual growth at June.” “There was nothing particularly out of place in the other GDP detail. Nominal GDP growth slowed more sharply, but this was from a higher starting point than the constant price series – 10.2%yr to 9.8%yr.” “Using first half growth as a benchmark for 2018 overall, an average of 1.6% equates to 6.4% annualised, a tick below authorities’ target of 6.5% for 2018. On the partial data to hand, an acceleration in the second half seems highly unlikely. Hence the risks to the authorities’ target are skewed downward.” “We remain comfortable with our sub-consensus 6.3% forecast for 2018.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EU’s Tusk on trade wars: There is still time to prevent conflict and chaos FX Street 5 years Elliot Clarke, Research Analyst at Westpac, explains that despite challenging circumstances, China's economy continues to grow at a robust pace, benefitting the nation broadly, but particularly households. Key Quotes "Annual growth was in line with the market's expectation at 6.7%. In keeping with the 'quality growth' focus (which, in large part, is about improving consumers living standards), consumption was the key support for growth. In year-to-date terms, consumption added 5.3ppts to annual growth at June." "There was nothing particularly out of place in the other GDP detail. Nominal GDP growth slowed more sharply, but this was from a higher starting… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
