Kagenmi
- China's economic recovery saw a little rebound in Q3 as GDP expanded by 4.9% y/y, beating market forecasts of 4.4% and offering hopes that it will meet the official annual target of around 5% this year, after policy interventions by authorities.
The country's GDP in Q2 grew 6.3%, amid a low base of comparison from last year when Shanghai and other major cities were under strict lockdowns.
Considering the first 9 months of the year, the economy advanced 5.2%. Last year, the GDP added 3% last year, missing official goal of about 5.5%.
In September alone, retail sales rose the most in 4 months, up for the 9th consecutive month; and industrial output growth stayed at its highest level since April.
"The national economy continued to recover, and high-quality development was solidly advanced, laying a solid foundation to attain the annual development goals," China’s statistics bureau said in a statement.
"We must also note that the external environment is becoming more complex and severe, domestic demand is still insufficient, and the foundation for economic recovery still needs to be consolidated,” he added.
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