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China's Q4 GDP forecast trimmed to 7.3% - Nomura

FXStreet (Bali) - Nomura has trimmed China's Q4 GDP growth forecast to 7.3%, but maintain their annual forecast of 7.4%.

Key Quotes

Industrial production growth moderated to 7.7% y-o-y in October after rebounding to 8.0% in September (Consensus: 8.0%; Nomura: 7.7%)."

"Fixed asset investment growth slowed further to 15.9% y-o-y (ytd) in October from 16.1% in September (Consensus: 16.0%; Nomura: 15.7%)."

"Leading indicators of the property sector improved modestly because of policy easing, but there is still a lot of overhang. We expect the correction to resume next year. "

"We lower our Q4 GDP growth forecast to 7.3% y-o-y from 7.6% previously."

"The soft start to Q4 also supports the case for more policy easing, and we continue to expect a 50bp cut in the reserve requirement ratio (RRR) every quarter from now until and including Q4 201."

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