Update: China’s Quarterly GDP Growth Slows to 4.8% as Weak Consumption Weighs
Listen to the full version
China’s GDP growth slowed in the third quarter to a one-year low, with weaker domestic consumption, a deepening property slump, and the first decline in fixed-asset investment in five years.
The 4.8% year-on-year growth figure, which the National Bureau of Statistics (NBS) released Monday along with September economic activity data, matches the average forecast in a Caixin survey of economists.
It marks a further slowdown from the 5.2% in the previous quarter, taking growth for the first nine months to 5.2%.
“The slowdown in third-quarter growth was driven by a combination of factors,” an NBS spokesperson said in a Q&A following the data release, pointing to a “complex and challenging” overseas environment, combined with mounting pressures from domestic economic restructuring.
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- RELATED
- DIGEST HUB
Digest Hub
Back
- China’s GDP grew 4.8% year-on-year in Q3, matching expectations, down from 5.2% in Q2.
- Key indicators: industrial production up 6.5% in September, retail sales up 3%, property investment down 13.9% for the first nine months.
- Growth faces risks from U.S.–China trade tensions, weak domestic demand, and a sluggish property market.
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新