FX.co ★ China’s economy falls to the lowest level since 2009

China’s GDP grew by 6.9% year-on-year in the third quarter of 2015 reflecting the slowest growth rate since March 2009. Even though the data is not encouraging, the figure exceeds slightly the experts’ forecasts of 6.8%.
In the first quarter of 2009, China’s economy expanded only by 6.2%, hitting record lows for many years.
As for China’s economic sectors, agriculture gained 3.8%, while manufacturing production increased by 6%. At the same time, the services sector edged up by rather impressive 8.4%.
Industrial production climbed up by 6.2% on a yearly basis, while manufacturing showed 7% growth. In addition, mining rose by 3.3% and production of electricity, heat, gas, and water increased by 1.7%.
Investments in Chinese infrastructure are also at high levels. Public companies increased investment by 11.4%, while flows from private companies, which account for 64.8% from all funds, grew by 10.4%.
In addition, wages in China rose by 8.1% for rural dwellers and 6.8% percent for urban residents.