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Third-quarter GDP data up 4.9%, disappointing

An aerial photograph of coal being unloaded from a cargo ship at Lianyungang Port on October 14, 2021 in Lianyungang City, Jiangsu Province, China.

Chien-Ming Wang | Visual China Group | Getty Images

Beijing — China’s third-quarter GDP grew unfortunately by 4.9% as September industrial activity growth was lower than expected.

The National Bureau of Statistics said Monday that gross domestic product increased by 4.9% in the third quarter from a year ago. According to analysts surveyed by Reuters, this missed expectations for a 5.2% increase.

Industrial production in September increased by 3.1%, below Reuters’ forecast of 4.5%.

However, retail sales were better than expected, rising 4.4% in September from a year ago. A Reuters poll predicted a growth of 3.3%.

Fixed asset investment in the first three quarters of the year was weaker than expected, up 7.3% from a year ago and up from the expected 7.9% figure.

The unemployment rate in the city in September was 4.9%. However, that for people aged 16 to 24 remained much higher at 14.6%.

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Third-quarter GDP data up 4.9%, disappointing

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