China grew 7.3 percent in 3Q of 2014, the lowest since 2009. The government said it was quite comfortable with a slowdown from a 7.5 percent growth in the previous period, as all of its partners in the emerging markets and in the EU are losing steam.
The Chinese Government called the third quarter result a ‘new normal’, as they expect the full year result to be at 7.5 percent. The fresh data released Tuesday by the Chinese National Bureau of Statistics comes at a time when other emerging economies are slowing and the EU member states risk falling into a triple – dip recession.
Tuesday GDP also topped most of the analyst expectations that stood at around 7.1 – 7.2 percent.