China macro figures released today, show that 3Q08 China GDP growth of 9% emerged below onsensus estimates of 9.7% and compares to 2Q08 growth of 10.1%. The figures formally confirm the comments made last week by CEO of Rio Tinto of a Chinese slowdown, however growth of 9% during a quarter when industrial output was curtailed due to the Olympics with rolling nine month growth of 9.9% is still exceptionally strong. Growth is forecast at 8-9% in 2009. With faling commodity prices, the risk of an inflation has abated and that should give the govt officials some leeway to cut the interest rates or to take steps to kick start the growth!!
*Semi post intended to post yday! *
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