Breaking: China’s GDP expands by 4.5% YoY in Q3, vs 4.4% expected
China’s Gross Domestic Product (GDP) grew by 4.5% year-over-year (YoY) in the third quarter (Q3), compared to 4.3% in the previous reading, according to data released by the National Bureau of Statistics of China on Monday. The market consensus was for a 4.4% growth in the reported period.
China's Gross Domestic Product (GDP) expanded by 4.5% year-over-year in the third quarter (Q3), surpassing forecasts of 4.4%. On a quarterly basis, the Chinese economy grew by 1.2% in Q3, up from a 0.9% increase in Q2. Retail sales in China rose 1.1% year-over-year in September, outpacing expectations of a 0.5% growth and an increase of 0.4% in August.
Industrial Production climbed 5.5% year-over-year, exceeding the 5.4% forecast and 5.2% from previous estimates. These strong economic indicators have led to a favorable impact on the Australian Dollar (AUD), which is trading 0.36% higher against the US Dollar (USD).
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- China Q3 GDP grows 4.5%, slightly more than expected investing.com
