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Financial News: China GDP Climbs 4.9% On Year In Q3

China GDP Climbs 4.9% On Year In Q3

10/17/2021 - 22:45:00 (RTTNews)

(RTTNews) - China's gross domestic product expanded 4.9 percent on year in the third quarter of 2021, the National Bureau of Statistics said on Monday - missing forecasts for 5.2 percent and down sharply from 7.9 percent in the three months prior.

On a seasonally adjusted quarterly basis, GDP rose just 0.2 percent - again missing expectations for 0.5 percent and down from the downwardly revised 1.2 percent growth in the previous three months (originally 1.3 percent).

The bureau also said that China's industrial production gained 3.1 percent on year in September, missing forecasts for 4.5 percent and slowing from 5.1 percent in August.

Retail sales picked up an annual 4.4 percent, beating forecasts for 3.3 percent and up from 2.5 percent in the previous month.

FAI was up 7.3 percent on year, missing expectations for 7.9 percent and down from 8.9 percent a month earlier.

The jobless rate in September was 4.9 percent, down from 5.1 percent in August.

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