$CNGDPYY - China's GDP (Q3/2024)ECONOMICS:CNGDPYY Q3/2024
source: National Bureau of Statistics of China
-The Chinese economy expanded 4.6% YoY in Q3 of 2024,
compared with market forecasts of 4.5% and a 4.7% rise in Q2.
It marked the slowest annual growth rate since Q1 2023, amid persistent property weakness, shaky domestic demand, deflation risks, and trade frictions with the West.
The latest figures came as Beijing had intensified stimulus measures to boost economic recovery and rebuild confidence.
In September alone, there were some positive signs:
industrial output and retail sales both saw their largest increases in four months, and the urban jobless rate fell to a three-month low of 5.1%.
On the trade front, however, exports rose the least in five months while imports were sluggish. In the first three quarters of the year, the economy grew by 4.8%, compared with China’s full-year target of around 5%.
During the period, fixed investment rose by 3.4% yoy, topping consensus of 3.3%.
