China says its economy grew 4.9% in the third quarter

[superadmin]

• 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.

- Continue reading -