Business

Third-quarter GDP data grows 4.9%, missing expectations

Aerial view of coal being unloaded from a cargo ship at Lianyungang port on Oct. 14, 2021 in Lianyungang, Jiangsu Province of China.

Wang Jianmin | Visible China Group | Getty Pictures

BEIJING — China’s third-quarter GDP grew a disappointing 4.9% as industrial exercise rose lower than anticipated in September.

The Nationwide Bureau of Statistics mentioned Monday that gross home product grew 4.9% within the third quarter from a yr in the past. That missed expectations for a 5.2% enlargement, in accordance with analysts polled by Reuters.

Industrial manufacturing rose by 3.1% in September, under the 4.5% anticipated by Reuters. 

Nevertheless, retail gross sales beat expectations, rising 4.4% in September from a yr in the past. The Reuters ballot predicted 3.3% progress.

Mounted asset funding for the primary three quarters of the yr got here in weaker than anticipated, up 7.3% from a yr in the past versus the anticipated 7.9% determine.

The city unemployment price in September was 4.9%. Nevertheless, that for these aged 16 to 24 remained far greater, at 14.6%.

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