China’s economy grows at a 4.6% rate in the last quarter, falls short of the official 5% target
HONG KONG — China’s economy expanded at an annual rate of 4.6% in the July-September quarter, the government said Friday, in the latest evidence that recent efforts to rev up growth have yet to take hold.
The economy has remained sluggish despite the lifting of COVID-19 restrictions at the end of 2022. Consumer confidence is low and the real estate market remains a drag on the economy. China’s growth rate in the first three quarters of the year was 4.8%. On a quarterly basis, the economy expanded 0.9% in the quarter that ended in September, up from 0.7% growth in the previous quarter.
“A boost from fiscal stimulus should help narrowly meet the annual growth target this year and support activity in the coming quarters, although this won’t stop growth from slowing again by the end of next year,” Zichun Huang of Capital Economics said in a report.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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