NEW YORK (MarketWatch) -- China's economic recovery has ended and its gross-domestic-product growth will slow to 7.5% year-on-year in the fourth quarter and 6.9% in 2014, according to economists at Nomura.
Data on Friday showed that China's GDP rose 7.8% in the third quarter, meeting market expectations. But leading indicators suggest that China's recovery ended in September, the Nomura economists wrote in a note on Friday.
They see downside risks to their fourth-quarter GDP forecast.
"We have argued that China's recovery is fundamentally unhealthy, as it has been mainly driven by heavy industry and stands in contrast to the principles recently expounded by both President Xi Jinping and Premier Li Keqiang - that a lower rate of GDP growth can be tolerated to ensure a better quality of growth in the future," the economists wrote.
marketwatch.com
Data on Friday showed that China's GDP rose 7.8% in the third quarter, meeting market expectations. But leading indicators suggest that China's recovery ended in September, the Nomura economists wrote in a note on Friday.
They see downside risks to their fourth-quarter GDP forecast.
"We have argued that China's recovery is fundamentally unhealthy, as it has been mainly driven by heavy industry and stands in contrast to the principles recently expounded by both President Xi Jinping and Premier Li Keqiang - that a lower rate of GDP growth can be tolerated to ensure a better quality of growth in the future," the economists wrote.
marketwatch.com
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