China's Economic Growth Cools as Inflation Accelerates

China’s economy grew 9.6 percent in the third quarter, the smallest gain in a year, as inflation accelerated in September to the fastest pace in 23 months.

The increase in gross domestic product from a year earlier topped economists’ median 9.5 percent estimate. Consumer prices rose 3.6 percent last month, the statistics bureau said at a briefing in Beijing. That matched the median forecast.

China’s interest-rate increase two days ago, the first since 2007, highlighted the government’s confidence in the nation’s recovery and concern at asset-bubble and inflation risks. The strength of the economy may determine how much the government allows the yuan to gain as international tensions build over currency interventions, a topic to be discussed by Group of 20 officials meeting from tomorrow in South Korea.

Read Full Article from Bloomberg

- Posted: 2010-10-20 22:09:07

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