September 15, 2025 04:35 AM GMT China Economics | Asia Pacific 3Q GDP Softening to 4.5%Y as Fiscal Impulse Fades Key Takeaways 3Q GDP is set to slow to 4.5%Y… August growth slipped more than the market expected for the 2nd month. Infrastructure capex led the decline, likely reflecting a higher base of gov't bond funding support and tighter local gov't liquidity, as 92% of this year's Rmb2trn debt swap quota is used. Retail sales growth also slowed to a 9- month low of 3.4%Y, due to slow disbursement and rec ...