1. Hello Guest Click here to check FX Binary Point Financial Directory

Chinese growth overestimated - NAB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Analysts at NAB offered updates to official data downgraded 2014 growth...

    Key Quotes:

    "In early September, China’s National Bureau of Statistics (NBS) released revised estimates for the country’s gross domestic product (GDP), which showed weaker than previously reported growth in 2014. In January, the NBS estimated China’s economic growth at 7.4% in 2014, however this was cut to 7.3% in the September revision – given RMB 32 billion was cut from the 2014 level.

    A weaker estimated growth rate for China’s services sector was the main driver to the GDP revision (with output from both the agricultural and industrial sectors revised marginally higher). For the full year, the services sector grew by 7.8% according to the latest estimates, compared with 8.1% growth reported in January. Despite this weaker growth profile, services have been the strongest growing component of China’s economy for the past three years, as well as being the key driver of growth in the first half of 2015."

    See here for RBA jobs report preview: What to expect in AUD/USD?
    For more information, read our latest forex news.

Share This Page