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China's economy is set to slow sharply as it grapples with the Evergrande crisis and weaker domestic demand, Barclays says

From businessinsider.com

Data released Monday will show that the Chinese economy slowed sharply in the third quarter as investment in the enormous property sector weakened, Barclays has predicted. Barclays analysts, led by chief China economist Jian Chang, said in a recent note that gross domestic product likely grew 4.6% in the third quarter compared to 7.9% in the second. Like other banks such as Goldman Sachs, Barclays has become more pessimistic about China's economic prospects over the last month as the country grapples with the looming default of highly indebted property developer Evergrande, as well as a serious energy crunch. (full story)

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  • Category: Fundamental Analysis