China’s economy grew by 4.6% in the third quarter of 2024 compared to the same period last year, according to official data released on Friday. The growth rate slightly surpassed analysts’ expectations of 4.5% but showed a slowdown from the 4.7% expansion in the previous quarter.
The third-quarter figures come as the government ramps up stimulus measures to revive economic momentum and stay on track to meet its annual growth target of around 5%. Authorities have implemented a series of policy actions since late September to bolster the economy amid signs of weakening demand.
GDP expanded a quarterly 0.9% in the three months to September, compared with a forecast 1.0% rise, but was wider than a revised 0.5% expansion in the second quarter. The latest figures keep up pressure on policymakers to maintain support for the economy which still contends.
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Source: Moneycontrol
News Desk
