The FTSE 100 (^FTSE) and European stocks were higher on Monday as China’s economic growth slowed to its lowest level in a year as its trade war with the US dampened activity.
Gross domestic product (GDP) in the country expanded 4.8% year-on-year in the July to September quarter, according to the latest data from the National Bureau of Statistics (NBS).
The reading matched expectations and was a slowdown from the second quarter of the year, when GDP rose 5.2%. It also came in weaker than the 5.4% growth recorded in the three months to March.
However, on a quarterly basis, GDP grew 1.1% in the third quarter, compared with a forecast 0.8% increase and a revised 1.0% gain in the previous quarter.
It comes ahead of China’s latest four-day “fourth plenum” meeting which starts today, where Communist party leaders are gathering to decide the country’s next five-year…
