China’s GDP Q3 2024 +4.6%
According to data released by the National Bureau of Statistics, China’s GDP grew by 4.6 per cent year on year in the third quarter of 2024.
On a quarterly basis, in the July-September period, the economy expanded by 0.9 per cent, while in the first three quarters, the country's economy rose by 4.8 per cent after a 5 per cent growth recorded in the first half of 2024.
China's industrial output, a gauge of activity in the manufacturing, mining and utilities sectors, grew by 5.4 per cent in September from a year earlier after a 4.5 per cent rise in August.
Industrial output grew by 5.8 per cent in the first three quarters compared to the same period last year, while in the first half of 2024, it rose by 6 per cent from a year earlier.
Retail sales, a key measurement of consumer spending, grew by 3.2 per cent year-on-year in September, up from the 2.1 per cent growth in August.
In the first three quarters, retail sales rose by 3.3 per cent compared to the same period last year, while in the first half 2024, they grew by 3.7 per cent from a year earlier.
In the January-September period, fixed-asset investment, a gauge of expenditures on various elements, including infrastructure, property, machinery and equipment, grew by 3.4 per cent compared with a year earlier, the same as the January-August period.
The surveyed urban jobless rate came in at 5.1 per cent in September from 5.3 per cent in August.