China to post weakest GDP in at least 27-1/2 years - Reuters

Omkar Godbole FXStreet Contributor

China, the world's second largest economy, is expected to post its weakest economic growth in at least 27.5 years on Friday, putting pressure on the Chinese authorities to roll out aggressive stimulus to counter the slowdown inducated by the trade war with China.

Analysts polled by Reuters expect gross domestic product (GDP) to grow 6.1% in the July-September quarter from a year earlier, the slowest pace since the first quarter of 1992, the earliest quarterly data on record.

The economy had grown by 6.2% in the second quarter. The government is targeting growth of 6-6.5% this year.

The third quarter GDP is scheduled for release at 02:00 GMT. Many analaysts believe that China has little room left to stimulate the economy, courtesy of the piles of debt from the previous easing cycles.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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