China’s third quarter GDP rose 4.9% year over year: report

China's third quarter GDP rose 4.9% year over year: report

Beijing-Chinese Officials said on Monday that gross domestic product in the third quarter was up 4.9% year-on-year, putting the Chinese economy back on track for the coronavirus half a year ago. After the pandemic took away the economy.

Although the 4.9% growth rate in the third quarter did not meet expectations Bringing China’s orbit closer It’s a prediction made before the pandemic swept the world, killing more than a million people and crashing the global economy, with forecasts for growth between 5.5% and 6% in early 2020.

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The third-quarter expansion is based on the 3.2% growth in the second quarter, which is following a historical contraction of 6.8% in the first three months of a year when authorities blocked the central Chinese city of Wuhan to curb rapid proliferation. virus.

A worker is assembling a distribution cabinet at State Grid Xiaoshan Electric Power Xinmei Electric Company in Hangzhou, Zhejiang Province, Eastern China on October 19, 2020. (Photo: STR / AFP) / China OUT (Photo: STR / AFP: Getty Image)

International monetary fund Is expected China’s economy will expand 1.9% in 2020, and this pandemic will be the only major global economy that has grown a fierce year.

In contrast, the US economy is expected to decline 4.3% and the eurozone is expected to decline 8.3%, the IMF said in its latest update this month.

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Monday’s third-quarter growth further demonstrated China’s relative strength and moved the Chinese economy to the positive zone in the first nine months of the year, an increase of 0.7% year over year.

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For more information WSJ.com

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