China Q3 GDP Growth Hits 1-Year Low, Raising Heat On Policymakers
NDTV
China's economy grew at the slowest pace in a year in the third quarter, hurt by power shortages, supply bottlenecks and sporadic Covid-19 outbreaks and raising heat on policymakers amid rising jitters over the property sector.
Beijing: China's economy grew at the slowest pace in a year in the third quarter, hurt by power shortages, supply bottlenecks and sporadic Covid-19 outbreaks and raising heat on policymakers amid rising jitters over the property sector.
Data released on Monday showed gross domestic product (GDP) grew 4.9% in July-September from a earlier, the weakest pace since the third quarter of 2020 and slowing from 7.9% in the second quarter.
That marked a further deceleration from the 18.3% expansion in the first quarter, when the year-on-year growth rate was heavily flattered by the very low comparison seen during the Covid-induced slump of early 2020.
A Reuters poll of analysts had expected GDP to rise 5.2% in the third quarter.
