China GDP Annual Growth Rate

The Chinese economy advanced 3.9% yoy in Q3 of 2022, exceeding market consensus of 3.4% and picking up from a 0.4% growth in Q2, boosted by various measures from Beijing to revive activity. The latest figure was released just a day after President Xi Jinping secured a historic third term, and as the statistics agency warned that the recovery was still not solid due to domestic and global headwinds. September data showed a mixed recovery in China, with retail sales rising the least in 4 months, export growth at a 5-month low, and the jobless rate hitting its highest since June. Meantime, industrial output rose the most in 7 months, due to faster rises in output of both manufacturing and mining. For the first nine months of the year, China's GDP grew by 3%, with Beijing no longer mentioning about the target of 5.5% for 2022 but pledged easier lending and other measures to boost growth. The GDP data was originally scheduled for October,18th but was delayed until the Party Congress ended.