The Chinese economy grew 9.6 per cent in the third quarter from a year earlier, a scorching pace by most country’s standards but a moderate deceleration in growth from earlier in the year for Beijing.
A gradual easing in growth is exactly what Beijing has been trying to engineer and analysts said the 9.6 per cent year-on-year expansion in gross domestic product will please policymakers following increases of 10.3 per cent in the second quarter and 11.9 per cent in the first.
More worrying for the government will be the consumer price index, which showed inflation hitting a two-year high of 3.6 per cent in September. That was only slightly higher than August’s 3.5 per cent. Price rises were mostly confined to volatile food items.
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