China’s gross national product (GDP) increased by 3.9% in the third quarter of 2022 compared to the same quarter in 2021, the National Bureau of Statistics announced on Monday. The official figure came in higher than the forecast 3.3%, but lower than the government’s target of 5.5%. The Chinese economy grew 3% year-on-year in the first three months of 2022.
Industrial production improved by 6.3% annually in September, adding 2.1 percentage points compared to August. Retail sales were up 2.5% from September 2021, and 0.4% on a monthly basis.