China's economy records 0.4% growth in Q3

“The national economy sustained recovery against the pressure and showed sound momentum in the third quarter, notably better than in the second quarter. The production and demands continued to improve, employment and prices were generally stable and people’s livelihood was strongly and effectively safeguarded. The national economy was generally performing within an appropriate range,” the statement said. “According to preliminary estimates, the gross domestic product (GDP) in the first three quarters reached 87,026.9 billion yuan, up by 3.0 percent year on year at a constant price, or 0.5 percentage points faster than that in the first half year.”

“By industry, the value added of the primary industry was 5,477.9 billion yuan, up by 4.2 percent year on year; that of the secondary industry was 35,018.9 billion yuan, up by 3.9 percent; and that of the tertiary industry was 46,530.0 billion yuan, up by 2.3 percent. By quarter, the GDP grew by 4.8 percent year on year in the first quarter, 0.4 percent in the second quarter, and 3.9 percent in the third quarter. The GDP in the third quarter was up by 3.9 percent quarter on quarter,” the statement added. (ILKHA)