The Chinese economy grew by 6,9% in Q3 2015. Even though this is above the estimates, the figures are at the lowest level since March 2009. This is the time when the Chinese economy showed the lowest growth of 6,2%. Experts had expected 6,8%.
At the same time, the Chinese Services sector showed stunning growth. Specifically, the services sector gained 8,4% over the reporting period. At the same time, the agricultural and manufacturing sectors improved by 3,8% and 6% respectively. Investments in public and private stocks improved by 11.4% и 10.4% respectively over the same reporting period.
Despite the economic slowdown, the average Chinese household income keeps on growing. More specifically, when adjusted for inflation, the household income in Chinese cities got 6,8% higher while the same figures for the rural area improved by 8,1%.
FOREX
Masterforex-V Academy reports that the currency keeps on retracing from the downtrend against. The price is currently moving close to 6,3484.
For now, the closest level of support is located at the 6,3175 low while the closest level or resistance is represented by the 6,3840 high. If the price break above the high, the rally will be resumed, which means the Chinese Yuan will continue losing its value against the U.S. Dollar.
