China | Growth slowdown in Q3 calls for more easing measures

Summary

Sep economic indicators, together with Q3 GDP, were reported today. Q3 GDP growth slowed down to 6.5% y/y, compared with 6.7% y/y in the previous quarter and 6.6% of the market consensus. This suggests the economy further moderated amid the escalation of trade war and domestic deleveraging. We expect monetary and fiscal policy to become more pro-growth in the rest of year.

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