SunStar Publishing Inc.
HONG KONG — China’s economy slowed in the summer as global demand for its exports faltered and the ailing property sector sank deeper into crisis, the government said Wednesday.The world’s second-largest economy expanded at a 4.9 percent annual pace in July-September, beating analysts’ forecasts of about 4.5 percent, official data show. But that was much slower than the 6.3 percent annual growth rate of the previous quarter.
Stephen Innes, managing partner at SPI Asset Management, said that although the numbers beat expectations China’s economy is “not out of the woods by any means.”“This growth suggests a modest improvement in the Chinese economy. However, there are ongoing calls for increased policy support to maintain consistent growth, as there are concerns about the sustainability of the recovery,” Innes said in a note.On a quarterly basis, the economy grew by 1.3 percent in the third quarter, compared to the .
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