China’s economy grew 4.8% year-on-year in the third quarter, as official data showed the country remains on course to meet its annual growth target of around 5%.
According to figures released by the National Bureau of Statistics on Monday, China’s gross domestic product expanded by 4.8% in the July-September period compared with a year earlier.
While the pace slowed from the 5.4% growth recorded in the first quarter and 5.2% in the second, the average rate of 5.2% for the first nine months remains consistent with the government’s full-year target.
Industrial production posted a strong performance in September, rising 6.5% year-on-year after growth of 5.7% in July and 5.2% in August. Retail sales increased by 3% in September, slightly below August’s 3.4% gain, indicating softer consumer demand.
The urban unemployment rate edged down from 5.3% in August to 5.2% in September, reflecting gradual improvements in the job market.
Analysts say the figures suggest steady but uneven recovery momentum, with policymakers likely to maintain targeted stimulus measures to support domestic demand and sustain growth through the year’s final quarter.
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