China's gross domestic product (GDP) expanded by 4.9 percent year on year in the third quarter, picking up from the 3.2-percent growth in the second quarter, data from the National Bureau of Statistics showed today. The economy expandedby 0.7 percent year on year in the first three quarters. The growth was slower than the 5.2 percent forecast by analysts in a Reuters poll, and followed a 3.2 percent growth in the second quarter. The economy grew by 0.7 percent in the first nine months from a year earlier, the data showed. China continues to show positive growth and its GDP growth is expected to reach 8.2 percent next year, according to the World Economic Outlook by the IMF on Tuesday.

Source: The Standard October 19, 2020 02:11 UTC