mpc: 8
The annual rate of Chinese GDP growth had remained strong and stable at just below 9½% in
Q3. However, some other indicators of activity had suggested that growth may have slowed through
2004 and then picked up in 2005. There had been little news in the latest Japanese activity data, where
indicators had been consistent with the anticipated slowing of growth from the rapid pace in the first
half of the year.
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