10-19-2020, 02:19 PM
- China's economy recovered further from the coronavirus in the third quarter, according to data released Monday by the National Bureau of Statistics.
- The world's second-largest economy reported third-quarter GDP growth on the low end of expectations, up 4.9% from a year ago. That brings growth for the first three quarters of the year to 0.7% from a year ago.
- Slower recovery in Chinese consumption remained a drag, with retail sales contracting 7.2% in the first nine months of 2020 from a year ago.
BEIJING — China's economy recovered further from the coronavirus in the third quarter, according to data released Monday by the National Bureau of Statistics.
The world's second-largest economy reported third-quarter GDP growth on the low end of expectations, up 4.9% from a year ago. That brings growth for the first three quarters of the year to 0.7% from a year ago.
Chinese economists expected GDP growth of 5.2% in the third quarter, according to an average of estimates compiled by Wind Information, a financial information database.
Slower recovery in Chinese consumption remained a drag, while uncertainty persisted about the ability of other countries to control the coronavirus pandemic and return to economic growth.
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