China Q3 GDP growth slows to 4.8 per cent
The Chinese economy grew by 4.8 percent in the third quarter compared to the same period of the previous year; Pressure for new incentives continues due to analysts’ expectations and the trade war with the USA shaking confidence.
The July-September data was the weakest growth rate since the third quarter of 2024, compared with the 5.2 percent growth rate in the previous quarter, the government said in a report on Monday.
Analysts surveyed by Reuters had predicted that gross domestic product (GDP) would increase 4.8 percent in the July-September period compared to the previous year, slowing down from the 5.2 percent increase in the second quarter.
China aims to grow around 5 percent for the whole year.
Office for National Statistics data showed that on a quarterly basis, GDP rose 1.1 percent in the third quarter; In the previous quarter, an increase of 0.8 percent and a revised increase of 1.0 percent were expected.
After a strong start to the year, the world’s second-largest economy has steadily lost momentum, weighed down by a prolonged property slump, weak consumption and trade tensions.
with AP
Australia’s Associated Press is the beating heart of Australian news. AAP is Australia’s only independent national news channel and has been providing accurate, reliable and fast-paced news content to the media industry, government and corporate sector for 85 years. We inform Australia.
