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China’s GDP expected to grow 5%, 7% in last two quarters

2020-10-17 09:10:17       source:Global Times

October 16, 2020

When a sudden coronavirus outbreak almost halted the Chinese economy late January, few people expected the "normal day" could come so soon. China's GDP is estimated to grow above 5 percent in the third quarter of the year, and a much faster pace in the fourth quarter. It's a sign that the world's second-largest economy is further back on track while others were still in trouble, according to economists and agencies ahead of an official announcement on Monday of third quarter economic figures.

Economic figures have seen better-than-expected performance in recent months: China's imports grew at their fastest pace this year in September, far above expectations, while exports continued to expand.

China's retail sales resumed growth in August for the first time in 2020. The country's official manufacturing PMI rose to 51.5 in September from 51 in August, continuing a seven-month growth trend.

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