China GDP Expands 4.9% On Year In Q3
China’s gross domestic product was up 4.9 percent on year in the third quarter of 2020, the National Bureau of Statistics said on Monday – missing forecasts for a gain of 5.2 percent but still up from 3.2 percent in the three months prior.
On a quarterly basis, GDP rose 2.7 percent – again shy of expectations for 3.2 percent and down sharply from the 11.5 percent gain in the previous three months.
The bureau also said that industrial production jumped 6.9 percent on year in September – beating forecasts for a gain of 5.8 percent and up from 5.6 percent in August.
Retail sales climbed an annual 3.3 percent, exceeding expectations for a rise of 1.8 percent following the 0.5 percent gain in the previous month.
Fixed asset investment was up 0.8 percent year to date in September, matching forecasts following the 0.3 percent fall a month earlier.
The jobless rate came in at 5.4 percent in September, down from 5.6 percent in August.