⁍ The world’s second largest economy expanded 4.9% in the July-to-September quarter compared to a year ago.
⁍ The pace was quicker than the 3.2% increase that China recorded in the second quarter.
⁍ Analysts polled by Refinitiv predicted that China’s economy would expand 5.2%.
– China’s economy grew 4.9% in the third quarter, faster than the 3.2% recorded in the second quarter but below analysts’ expectations of 5.2%, CNN reports. “China’s economy continued its rapid rebound last quarter, with the recovery broadening out and becoming less reliant on investment-led stimulus,” writes Julian Evans-Pritchard, senior China economist for Capital Economics, in a research note. “What’s more, the monthly data show that growth was still accelerating heading into Q4,’ Evans-Pritchard adds. China’s recovery has been relatively speedy. The country enforced stringent lockdown and population tracking policies intended to contain the virus, and set aside hundreds of billions of dollars for major infrastructure projects to fuel economic growth. The economy grew a cumulative 0.7% through the first nine months of this year.
Source: https://www.cnn.com/2020/10/18/economy/china-q3-gdp-intl-hnk/index.html