(MENAFN) China’s economy grew by 4.6% in Q3 2024 compared to last year, as reported by the National Bureau of Statistics. This growth signifies a steady recovery despite challenges. For the first nine months, GDP increased by 4.8%, indicating stable economic progress.
The Bureau stated that the economy remains stable, with advancements across various sectors. Production and demand rose, supporting stable employment and prices, which benefits the population. There has been significant progress in high-quality development and new economic forces.
Agriculture saw a 3.7% increase in value-added output in the first three quarters, while industrial output grew by 5.8%. The services sector also expanded, with a 4.7% increase.
Consumer activity improved, with retail sales up 3.3% year-on-year. The total value of imports and exports rose by 5.3%. The consumer price index (CPI) increased moderately by 0.3%, indicating controlled inflation.
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