China’s economy grew by 4.6% year-on-year in the third quarter, official data showed, slower than in the previous three months, underscoring weak growth as Beijing steps up efforts to stimulate the economy, writes ZF, citing FT .
The figure is below the government’s target for annual growth of 5% and lower than the 4.7% recorded in the three months to June, as weak consumption and the housing collapse hit household sentiment.
Weaker growth will underscore the need for more support for the economy from Beijing, which in late September announced the biggest monetary stimulus since the pandemic and followed through with promises of big fiscal spending.
Source: www.descopera.ro
