Know The Difference Minute

In the third quarter, China's gross domestic product grew at a 5.3% annualized pace. Consumption was a big driver of growth while the property sector is still struggling. 

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Comeback Kid?
Welcome to the Know the Difference Minute for Wednesday, October 18th.
China’s economic statistics are always suspect. They tend to get the numbers out really fast for such a big country. They also tend to be suspiciously close to targets set by the government.
Still, the data for third quarter, and for September, may indicate that their grasping at straws approach to stimulus is finally getting some traction.
In the third quarter their gross domestic product grew at a 5.3% annualized pace. Consumption was a big driver of growth while the property sector is still struggling.
That could be welcome news for investors as main Chinese equities that U.S. investors can easily access are down nearly 9% year-to-date and nearly 17% over the last three years.
Chinese consumers seem to be finally making a comeback. Industrial production also may be finding a footing. Those are big maybes, but markets move on maybes.
I’m Brian Jacobsen, Chief Economist at Annex Wealth Management. That is your Know the Difference Minute.