China’s third quarter gross domestic product (GDP) growth fell short of expectation accounting to disappointing industrial output.
The National Bureau of Statistics earlier this morning announced third quarter GDP grew only by 4.9% compared to a year earlier. Industrial output largely influenced the GDP number growing by 3.1% compared to a year earlier.
Fixed assets grew by 7.3% weaker for the first time three quarter with retail sales showed resilience growing by 4.4% year-on-year.
CSI 300 trading in red down by 1.44% while Hang Seng index down by 0.46% sharply reacting to the disappointing GDP number.