"China's GDP expanded by 4.8% year-on-year in the July-September quarter, new data from the National Bureau of Statistics (NBS) shows shows, broadly matching expectations. That's a slowdown from the second quarter of the year, when GDP rose by 5.2%, and also weaker than the 5.4% growth recorded in January-March. The annual slowdown casts something of a shadow over China's latest four-day fourth plenum meeting which starts today, where Communist party leaders are gathering to hammer out the country's next five-year plan."
"Growth in industrial production rose to 6.5% year-on-year in September, up from 5.2%, while retail sales growth slowed to 3% from 3.4% The NSB took a loyally upbeat view of the economic situation, reporting that The national economy sustained the steady development momentum with progress against the pressure, production and supply grew steadily, employment and prices were generally stable, new growth drivers showed stable development, and the people's well-being was ensured in a strong and effective manner."
China's GDP grew 4.8% year-on-year in the July-September quarter, down from 5.2% in Q2 and 5.4% in Q1. On a quarterly basis, GDP rose 1.1% in Q3, above the 0.8% forecast and a revised 1.0% in the previous quarter. Industrial production strengthened, rising 6.5% year-on-year in September, while retail sales slowed to 3%. The US-China trade war has dampened activity. Communist party leaders are convening a four-day plenum to develop the next five-year plan. The NBS described the national economy as resilient with steady production, stable employment and prices, and improving growth drivers.
Read at www.theguardian.com
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