|China third quarter growth of 7.8pc reflects mild rebound
China's gross domestic product expanded 7.8 percent year-on-year in July-September, the government said. This snapped two quarters of slowing growth.
The GDP figure matched the median forecast of in a survey of 11 economists by AFP. Growth for the first nine months of the year came in at 7.7 percent, the National Bureau of Statistics said today.
"The overall national economy realised steady growth and enjoyed good momentum,'' the NBS said in a statement accompanying the figures.
"The major indicators stayed within the rational range, which was in favour of promoting economic restructuring and pushing forward reforms.''
Despite the overall acceleration in the third quarter, signs the recovery is waning have already emerged, highlighted by a surprising drop in exports last month.
"The margin of the rebound may not be that big, but still it showed momentum of a mild and steady rebound, Ma Xiaoping, a Beijing-based economist for HSBC, told AFP.
"The GDP figure in the fourth quarter may be lower than the third quarter, as the momentum of the rebound is not that strong while the base from the fourth quarter last year is relatively high,'' she added.