China GDP growth slows in 3Q24 but beats expectations at 4.6% year-on-year
Regulation · 2024-10-18
China GDP growth slows in 3Q24 but beats expectations at 4.6% year-on-year
China’s National Bureau of Statistics released latest financial data on Friday, showing that the country’s Gross Domestic Product (GDP) grew by 4.6% year-on-year in the September quarter, the lowest growth in the past six quarters.
According to the Bureau, GDP for the first three quarters of this year was RMB94.97 trillion (US$13.3 trillion), up 4.8% year-on-year increase in constant prices, while actual GDP grew by 4.6%. Although growth slowed, it beat market expectation of a 4.5% increase.
China’s GDP grew at annualised rates of 5.3% and 4.7% in the first and second quarters of 2024.
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