October 19, 2017 – China’s economy grew 6.8 per cent in the third quarter from a year earlier, official data showed today, in-line with expectations and below the previous quarter’s growth as fixed asset investment growth slowed.
Analysts had expected gross domestic product to expand 6.8 per cent in the July-September quarter from 6.9 per cent growth in the April-June quarter.
While policymakers’ efforts to curb property market speculation and cut debt are expected to have hit growth in some parts of the world’s second largest economy, activity has been supported by better-than-expected expansion in trade and bank lending.
Beijing is aiming for growth of around 6.5 per cent in 2017, slightly lower than last year’s 6.7 per cent, which was the weakest pace in 26 years.
GDP in the third quarter grew 1.7 per cent quarter-on-quarter, compared with growth of 1.8 per cent in April-June, which was revised up from initially reported 1.7 per cent growth, the National Bureau of Statistics said.
Analysts had expected third-quarter GDP would grow 1.7 per cent on a quarterly basis.
Analysts had expected gross domestic product to expand 6.8 per cent in the July-September quarter from 6.9 per cent growth in the April-June quarter.
While policymakers’ efforts to curb property market speculation and cut debt are expected to have hit growth in some parts of the world’s second largest economy, activity has been supported by better-than-expected expansion in trade and bank lending.
Beijing is aiming for growth of around 6.5 per cent in 2017, slightly lower than last year’s 6.7 per cent, which was the weakest pace in 26 years.
Analysts had expected third-quarter GDP would grow 1.7 per cent on a quarterly basis.
The statistics bureau also revised quarter-on-quarter growth for the first quarter to 1.4 per cent from 1.3 per cent.