Official data released by the National Bureau of Statistics (NBS) showed on Wednesday that China’s economy expanded at an annual rate of 4.9% in the third quarter of this year, up from 6.3% growth in the second quarter. Market expectations were for an expansion of 4.4% in the period analyzed.
On a quarterly basis, Chinese gross domestic product (GDP) rose 1.3% in the third quarter, up from 1.0% forecast and 0.8% previously.
On the other hand, Chinese retail sales in September rose 5.5% year-on-year, compared to 4.9% expected and 4.6% previously, while the country’s industrial production stood at 4.5% year-on-year, compared to 4.3% expected and 4.5%. % of August.
For its part, investment in fixed assets increased 3.1% year-on-year in September, compared to the expected 3.2% and the previous 3.2%.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
