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 Photos

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 stated Monday that gross home product grew 4.9% within the third quarter from a 12 months in the past. That missed expectations for a 5.2% enlargement, in line with analysts polled by Reuters.

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

Nevertheless, retail gross sales beat expectations, rising 4.4% in September from a 12 months in the past. The Reuters ballot predicted 3.3% development.

Fastened asset funding for the primary three quarters of the 12 months got here in weaker than anticipated, up 7.3% from a 12 months 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 increased, at 14.6%.

Learn extra about China from CNBC Professional | Third-quarter GDP information grows 4.9%, lacking expectations


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