BEIJING (Reuters) -China’s economy grew 4.8% in the third quarter from a year earlier, official data showed on Monday, in line with analysts’ expectations and maintaining pressure for fresh stimulus as a trade war with the U.S. saps confidence.
Analysts polled by Reuters had forecast July-September gross domestic product (GDP) would expand 4.8% from a year earlier, slowing from the second-quarter’s 5.2% pace.
China is aiming for full-year growth of around 5%.
On a quarterly basis, GDP grew 1.1% in the third quarter, the National Bureau of Statistics data showed, compared with a forecast 0.8% increase and a revised 1.0% gain in the previous quarter.
The world’s second-largest economy has steadily lost momentum following a strong start to the year, weighed down by a prolonged property slump, weak consumption and trade tensions.
(Reporting by Ellen Zhang and Kevin Yao; Editing by Kim Coghill)
Comments