China’s GDP grew by 3.9 %

The Gross Domestic Product of China showed a positive behavior in the third quarter of this 2022

China’s Gross Domestic Product (GDP) registered a growth of 3.9 % in the third quarter compared to the same period of the previous year, as well as in relation to the second quarter of the year, according to data published by the National Bureau of Statistics (ONE).

In this way, the year-on-year rate of expansion of the world’s second-largest economy exceeded expectations, which pointed to growth of 3.3 %, after GDP expansion of 0.4 % in the second quarter of 2022 and 4 .8 % in the first three months of the year.

In the first nine months of 2022, China’s GDP reached a value of 87 trillion yuan, which represents a year-on-year growth of 3 %, against the target for the whole year of 5.5 %.

The International Monetary Fund (IMF) forecasts that China’s economy will expand by just 3.2 % in 2022, which would be the slowest rate since the 1980s, excluding 2.4 % in 2020, when the coronavirus pandemic Covid-19 weighed on growth.

The Chinese primary sector grew in the first nine months of 2022 at an annual rate of 4.2 %, while industry expanded by 3.9 % and the services sector by 2.3 %.

The National Bureau of Statistics of China announced last week the postponement of the publication of the Asian giant’s GDP figures for the third quarter of the year to coincide with the celebration of the XX National Congress of the Communist Party of China (PCCh).

K. Tovar

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Source: Yahoo News

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