China's third-quarter GDP grows 7.8%: government

  • AFP, Beijing
  • |
  • Updated: Oct 18, 2013 08:25 IST

China's gross domestic product expanded 7.8% year-on-year in July-September, the Chinese government said on Friday, snapping two quarters of slowing growth in the world's second-largest economy.

The GDP figure matched the median forecast of in a survey of 11 economists by AFP. Growth for the first 9 months of the year came in at 7.7%, the National Bureau of Statistics said.

"The overall national economy realised steady growth and enjoyed good momentum," the NBS said in a statement accompanying the figures.

"The major indicators stayed within the rational range, which was in favour of promoting economic restructuring and pushing forward reforms."

China's industrial production, which measures output at factories, workshops and mines, rose 10.2% in September year-on-year, the NBS said, while retail sales, a key indicator for consumer spending, rose 13.3%.

And fixed asset investment, a measure of government spending on infrastructure, rose 20.2% during the first nine months of the year.

 

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