October 19, 2020

China’s economy grew by 4.9 per cent in the third quarter compared with a year earlier, accelerating from growth of 3.2 per cent growth in the second quarter, the National Bureau of Statistics (NBS) announced on Monday.

The world’s second-largest economy has recovered strongly after shrinking by 6.8 percent in the first three months of the year – the first official contraction since the end of the Cultural Revolution in 1976 – due to the lockdown efforts aimed at stemming the tide of the coronavirus pandemic.

Third quarter gross domestic product (GDP) growth was below the 5.5 per cent gain projected in a survey of analysts by Bloomberg.

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