Homeeconomy News

    China Q3 GDP +7.3% on year, versus +7.2% forecast

    China Q3 GDP +7.3% on year, versus +7.2% forecast

    Profile image

    By CNBCTV18.COM IST (Updated)

    Mini

    The Shanghai Composite erased earlier losses to enter positive territory and the Australian dollar gained 0.3 percent against the greenback, the best level since Thursday's high of USD 0.8830.

    China's economy grew at a faster-than-expected pace in the third quarter, official statistics showed Tuesday.
    Gross domestic product (GDP) growth for the July-September quarter came in at 7.3 percent from the year-ago period, beating a Reuters forecast for a 7.2 percent expansion and after the 7.5 percent growth in the second quarter. First-quarter growth came in at 7.4 percent on-year.
    The Shanghai Composite erased earlier losses to enter positive territory and the Australian dollar gained 0.3 percent against the greenback, the best level since Thursday's high of USD 0.8830.
    The GDP data have been closely watched for hints on whether policymakers will unleash further stimulus to buoy an economy struggling with a slump in its key property sector, a slowdown in credit growth and subpar inflation.
    Late last week, media reports said China's central bank is planning to inject 200 billion yuan (USD 32.6 billion) into the banking system, its latest targeted easing in recent months.
    "The question for me and a lot of analysts is what they
    In other data, industrial output for September rise 8 percent year on year, beating the 7.5 percent forecast by Reuters.
    Meanwhile, retail sales rose 11.6 percent from the year-ago period, a tad below the 11.8 percent expected gain.
    And fixed asset investment jumped 16.1 percent in the January-September period, short of the 16.3 percent forecast rise.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng