China's economic growth may have slowed in the third quarter of the year in response to stepped up efforts to cool an investment boom. Gross domestic product rose 10.4% from a year earlier, Bloomberg reported, still high, but lower than the 11.3% recorded in Q2. The slowdown, calculated from a median estimate of 27 economists surveyed by the agency, points to the first easing of the economy in a year. Official figures are due October 19. But the slowdown may be temporary. The government now has to rein in spending following two months of record trade surpluses while very slow currency gains may rekindle the fervour of foreign investors.
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