China reports third-quarter GDP growth of 4.6%, slightly beating expectations
China’s National Bureau of Statistics on Friday reported third-quarter GDP growth of 4.6% year on year, slightly beating expectations.
China’s National Bureau of Statistics on Friday reported third-quarter GDP growth of 4.6% year on year, slightly exceeding the 4.5% expected by economists polled by Reuters.
That’s less than the second-quarter growth of 4.7% year on year. On a quarterly basis, the third quarter saw 0.9% expansion, compared with 0.7% in the second quarter.
“The national economy showed positive signs of growth in September,” Sheng Laiyun, the bureau’s deputy commissioner, said at the news conference, according to CNBC’s translation of the Chinese.
Other data also released on Friday, such as retail sales and industrial production, also beat expectations, a hopeful sign for the world’s second-largest economy.
Beijing has faced growing public scrutiny over its ability to meet its own annual growth target of “around 5%.”
Rating: 5