Mainland economy grows by 3.9 percent in Q3
The mainland's economy grew 3.9 percent year-on-year in the third quarter, according to official data released on Monday, beating forecasts. The data – published six days later than scheduled – showed higher growth than the 2.5 percent predicted by a panel of experts surveyed by AFP, and beat the 3.4 percent expansion forecast in a Reuters poll. The National Bureau of Statistics (NBS) said China’s economy has withstood pressure and achieved continued recovery. It said the third quarter figures point to a better situation ahead.  Other indicators also showed that many economic areas are picking up at a steady pace. China's retail sales grew by 0.7 percent year-on-year in the first three quarters, compared with a 0.7 percent decline in the first half of the year.  August exports increased by 7.1 percent on-year, while car sales held strong last month, driven by strong demand for cleaner electric vehicles. The economy was also buoyed by manufacturing figures, with separate data showing industrial output in September rose 6.3 percent from a year earlier. Last Monday, Beijing delayed the release of the third-quarter growth figures – along with a host of other economic indicators – as the country's leaders gathered for the 20th CPC National Congress. The NBS announced that the release of the economic data would be "postponed" without specifying a reason or timeline for the figures to be released. (Agencies)______________________________
Last updated: 2022-10-24 HKT 16:40 