China's GDP rises 6.5% in the third quarter

China's GDP rises 6.5% in the third quarter



China's gross domestic product (GDP) rose by 6.5% in the third quarter of 2018, in line with the growth target set by the government for this year, the National Statistics Office (ONE) announced today.

Growth, the weakest since the first quarter of 2009, slowed down compared to the 6.7% registered in the second quarter of this year, something predicted by analysts, who nevertheless predicted that the slowdown would be somewhat less, 6.6% for this period.

During the first three quarters of 2018, China's GDP accumulated a growth of 6.7% over the same period of the previous year, reaching 65.09 trillion yuan (about 9.38 trillion dollars), with increases of 3.4% year-on-year in the primary sector, 5.8% in the secondary or industrial sector and 6.5% in the tertiary sector or services.

Another outstanding figure is industrial production, which increased 6.4 percent year-on-year in the first three quarters of 2018, 0.3% lower than the one registered in the first half of the year.

The ONE also released other economic indicators today, such as retail sales, which rose 9.3% year-on-year in the first three quarters of 2018, representing a slight decrease compared to 9.4% in the first two quarters.

Investment in fixed assets increased between January and September by 5.4% year-on-year, above the 5.3% registered in the January-August period.

In addition, investment in the real estate sector increased by 9.9% between January and September, down from 10.1% in the January-August period.

Today's data is released after the ONE on Tuesday revealed that the consumer price index grew 2.5 percent year-on-year in September, and that last week it was published that China's foreign trade grew by 9 percent. , 9% year-on-year in the first three quarters of the year.

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