Mexican Media Brands
China’s Growth Slows to 6.9%
China says its gross domestic product expanded by 6.9% in the third quarter of 2015, its smallest growth rate since 2009.
#economics
Share
China says its gross domestic product expanded by 6.9% in the third quarter of 2015, its smallest growth rate since 2009. The country’s economy grew 7% in the second quarter.
Economists say the slowdown reflects China’s volatile stock market, cooling domestic demand, high debt and weaker export market.
Economists polled by The Wall Street Journal predicted third-quarter growth of 6.8%. The newspaper says the better-than-expected result for July-September is likely to revive debate about the accuracy of China’s economic statistics.
Still, China’s economy is almost twice as big as it was six years ago. The central government is targeting full-year growth of 7% this year.
RELATED CONTENT
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.