0155 GMT - China's latest trade data adds a fresh sign of economic weakness ahead of 3Q GDP and key indicators for September due Friday, UOB's economics & markets research team says. They see GDP growth at 4.7% on year and 1.1% on quarter seasonally adjusted, similar to the pace seen in 2Q. That would put growth in the first three quarters at 4.9% on year, writes economist Ho Woei Chen in a note. UOB keeps its 2024 GDP growth forecast at 4.9% but cuts its view for exports and imports growth. As a low base effect fades in 4Q, exports and imports are likely to struggle to keep up gains, it says. UOB thinks policymakers will strengthen their fiscal response, with markets eyeing the Standing Committee of the National People's Congress in late October. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
October 14, 2024 21:55 ET (01:55 GMT)
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