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Chinese growth was still strong in Q3

  • Overall economic growth stayed fairly strong 
  • GDP growth only fell marginally from 6.9 percent y-o-y in Q2 to 6.8 percent in Q3
  • Retail sales growth increased more than expected
Read more in analysis here

Bjarke Roed-Frederiksen

Senior Economist

Latin America and China

bjro03@handelsbanken.dk

Latest analyses

2017-10-19

Fast Comment China

2017-10-19

Fast Comment China

2017-10-13

Morgenmelding Danmark
Latest from Speakers´ corner

Beige book - måttlig och modest

  • USA: Feds Beige book visade på fortsatt modest till måttlig tillväxt, i linje med septembertrapporten. Fortsatt brist på arbetskraft, men måttlig lönetillväxt
  • Spanien: Senast kl 1000 idag måste den katalanska presidenten backa från att utropa självständighet. I annat fall kommer Madrid att inleda ett övertagande av styret i Katalonien.

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Keywords: USA, Business Surveys, EMU, Politics

The chart of the day

Calendar

Fri, Oct 13
      Graph Period Cons. fc Our fc Previous Actual
08:00 Finland GDP Monthly Indicator August 3.6 2.7
08:00 Finland Finland, Harmonized CPI, Total, Index September
08:00 Finland CPI September 0.7 0.8
08:00 Finland HICP September 0.2 / 0.7 0.2 / 0.7
08:00 Germany HICP preliminary September 0.0/1.8 0.2 / 1.8 0 / 1.8
08:25 Germany CPI September 0.1/1.8 0.1 / 1.8 0.3 / 1.9
09:00 Sweden HOX, Flat prices September 0.2 / 8.1 -1.9 / 4.5
09:00 Sweden HOX,House and flat prices total September 1.8 / 9.2 -1.5 / 6.7
09:00 Sweden HOX, House prices September 2.8 / 9.9 -1.3 / 8.1
14:30 US CPI, less food and energy September 0.2/1.8 0.2 / 1.7 0.1 / 1.7
14:30 US CPI September 0.6/2.3 0.4 / 1.9 0.5 / 2.2
14:30 US Retail Sales Advance September 1.7 -0.1 1.6
16:00 US U. of Mich. Sentiment 95 95.1 101.1
16:45 Sweden Riksbanks´ Skingsley speaks
Sun, Oct 15
      Graph Period Cons. fc Our fc Previous Actual
15:00 World Central bank panel in Washington with Yellen, Zhou, Kuroda and Constancio (ECB)
Mon, Oct 16
      Graph Period Cons. fc Our fc Previous Actual
03:30 China CPI y-o-y September /101.6 / 101.8 / 101.6
09:00 Sweden Riksbanks´ Ohlsson speaks
14:30 US Empire Manufacturing October 24.4 24.4 30.2
Tue, Oct 17
      Graph Period Cons. fc Our fc Previous Actual
10:30 UK CPI September 0.3/3.0 0.6 / 2.9 0.3 / 3
10:30 UK CPI Core September /2.7 / 2.7 / 2.6
11:00 Eurozone HICP ex energy and food /1.1
11:00 Germany ZEW Eurozone Economic Sentiment October 31.7 26.7
11:00 Germany ZEW Economic Expectations October 20.0 17 17.6
11:00 Germany ZEW Current Situation October 88.5 87.9 87
15:15 US Industrial Production, sa September 0.3 -0.7 0.3
16:00 US NAHB-Wells Fargo Housing Market October 63 64 68
Wed, Oct 18
      Graph Period Cons. fc Our fc Previous Actual
10:10 Eurozone ECB´s Draghi speaks
10:30 UK ILO Unemployment Rate, sa July 4.3 4.3 4.3
14:30 US Housing Starts September 1180K 1.2M 1.1M
14:30 US Building Permits September 1230K 1.3M 1.2M
20:00 US Fed releases Beige book
Thu, Oct 19
      Graph Period Cons. fc Our fc Previous Actual
04:00 China Real Estate Transactions September 4.3 / 4.3 43.3 / -1.5
04:00 China Fixed Asset Investments September /7.7 / 7.6 / 7.4
04:00 China Industrial Production September /6.4 6 6.6
04:00 China GDP q-o-q Q3 1.7 1.8 1.7
04:00 China Retail Sales y-o-y September 10.2 10.1 10.3
09:30 Sweden Unemployment Rate, sa September 6.6 6.7 6.6 6.8
09:30 Sweden Unemployment Rate September 6.0 6 6.2
10:30 UK Retail Sales incl. Auto Fuel September -0.2/2.2 0.8 / 2.3 -0.7 / 1.2
14:30 US Initial Jobless Claims W41 244K 222K
14:30 US Philly Fed October 23.8 27.9
Fri, Oct 20
      Graph Period Cons. fc Our fc Previous Actual
08:00 Norway Business Tendency Survey Q3 3.8
09:00 Denmark Retail Sales September -0.6
16:00 US Existing Home Sales September 5.3M 5.4M
Fri, Oct 13|
Sun, Oct 15|
Mon, Oct 16|
Tue, Oct 17|
Wed, Oct 18|
Thu, Oct 19|
Fri, Oct 20
View the complete calendar

Latest publications in

Fast Comment China — Party congress in full swing

  1. Long-term growth target not mentioned
  2. SOE reforms among main economic policy priorities
  3. Leadership for the coming five years to be formed

Bjarke Roed-Frederiksen, Senior Economist | bjro03@handelsbanken.dk

Fast Comment Norway — Norges Bank’s survey of bank lending for Q3 shows lower credit demand from households

  1. Credit demand from households fell somewhat in Q3 2017...
  2. ...and demand is expected to fall further ahead
  3. Reflects tighter lending requirements, introduced in January

Marius Gonsholt Hov, Senior Economist | maho60@handelsbanken.no

Fast Comment Sweden — Unemployment in September

  1. Unemployment trend flat despite reignited growth in employment rate
  2. Job growth indicators are still mixed, dampening employment growth ahead
  3. Unemployment on the low side of potential is a foundation for higher cost pressures and hence inflation

Johan Löf, Senior Economist | jolo22@handelsbanken.se

Fast Comment China — Growth was still strong in Q3

  1. GDP growth fell only marginally to 6.8 percent in Q3
  2. Monthly indicators improved in September

Bjarke Roed-Frederiksen, Senior Economist | bjro03@handelsbanken.dk

Macro Comment US — Who will become the next Fed Chair?

Trump's idiosyncrasies make it hard to forecast which of the five candidates on his shortlist will become the next Fed chair. Our best guess is Gary Cohn. He is the only candidate on the list in favour of both low interest rates and financial deregulation. However, Trump sees him as disloyal, which could open the way for a nomination of Jerome Powell or Kevin Warsh, who are both considered personally loyal to Trump.

Petter Lundvik, Senior Economist | pelu16@handelsbanken.se