By Marcus Leach
Figures showing that China's economy has slowed for a seventh straight quarter are good news for British exporters, according to Global Reach Partners' Jamie Jemmeson.
The annual rate of growth was 7.4% in the third quarter, down from 7.6% in the previous three months, although there were signs that the world's second-biggest economy was now stabilising and rebounding.
However, despite demand for Chinese goods dipping slightly, the figures represent good news for Britain's exporters.
“After previous unwelcome surprises this year of Chinese economic growth being below expectations, today’s figures for growth in China’s third quarter are good news for Britain’s exporters - it is a major trading partner and the continued growth of its middle class is a huge opportunity for many British businesses," Jemmeson said.
"However, if the UK is to enjoy export-led recovery then the rest of the world needs to perform too. Despite the positive numbers, the currency markets will remain cautious about the potential for a Chinese economic 'hard landing'.
"Europe, China’s largest trading partner, is still not out of the mire. Given the timing of the comments from Beijing on Sunday signalling little likelihood of further Yuan appreciation in the near future, there are concerns whether there will be political gamesmanship ahead of the US elections.”
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