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Michael Pettis: China GDP grows 4.5% in third quarter year on year

Michael Pettis: China GDP grows 4.5% in third quarter year on year
China Q3 GDP rises 4.5 percent

China's gross domestic product increased 4.5% year on year in the third quarter. Michael Pettis, an economist and professor of finance, stated that the latest data continues to show an economy focused on boosting production while still struggling with demand. Pettis added that this pattern has persisted throughout the year.

Earlier this year, Michael Pettis reported that China cut its total number of banks by nearly a quarter, following more than 670 closures in the previous year. He has also noted that China’s growing debt is limiting the government’s fiscal space for broad new stimulus measures to support economic growth. For more details, see Pettis’s coverage of China’s bank closures and rising debt constraints.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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