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Jumei Int’l (JMEI) Stock Plummeting on China Economic Concerns

NEW YORK (TheStreet) -- Shares of Jumei International Holdings (JMEI - Get Report) are down by 10.30% to $10.02 in midday trading on Wednesday, as concerns regarding China's struggling economy weigh on U.S. traded China-based stocks today.

China is likely to post its worst quarter of economic growth since 2009 for the third quarter, according to a survey of analysts by CNNMoney.

Gross domestic product is forecast to have increased by 6.7% for the third quarter, below the 7% GDP growth rate China experienced for the first half of the year.

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For the 2015 full year economists are expecting growth of 6.8%, lower than the Chinese government's 7% target, CNNMoney continued.

Additionally, data out of China showed that consumer price gains slowed last month when compared to the same period in 2014, Bloomberg reports. Producer prices fell by 5.9%, the 43rd consecutive month of declines.

Jumei International is an online retailer of beauty products to Chinese consumers and is based in...