China’s gross domestic product (GDP) grew by 9.6 percent in the third quarter, reported the National Bureau of Statistics (NBS) on October 21.
The growth rate was slightly higher than the forecasted level of 9.5 percent but lower than the figures of 11.9 percent in the first quarter and 10.3 percent in the second quarter.
China’s GDP may have slowed down, but remains fairly high, quelling concerns that the country’s economy is in decline.
In September, the consumer price index (CPI) rose 3.6 percent year-on- year, up 0.6 percent from the previous month, while industrial output dropped to 13.3 percent in September from 13.9 percent in August.
During the first nine months of 2010, China’s retail revenues, a primary gauge of people’s spending habits, surged by 18.3 percent compared with the same period last year.
The statistics were released just a few days after China’s central bank decided to raise its prime interest rate for the first time in three years to combat rising inflation and growing asset bubbles./.
The growth rate was slightly higher than the forecasted level of 9.5 percent but lower than the figures of 11.9 percent in the first quarter and 10.3 percent in the second quarter.
China’s GDP may have slowed down, but remains fairly high, quelling concerns that the country’s economy is in decline.
In September, the consumer price index (CPI) rose 3.6 percent year-on- year, up 0.6 percent from the previous month, while industrial output dropped to 13.3 percent in September from 13.9 percent in August.
During the first nine months of 2010, China’s retail revenues, a primary gauge of people’s spending habits, surged by 18.3 percent compared with the same period last year.
The statistics were released just a few days after China’s central bank decided to raise its prime interest rate for the first time in three years to combat rising inflation and growing asset bubbles./.
