April 2, 2023

Dubai Week

Complete Dubai News World

The Chinese economy's disappointing growth of 4.9% in the third quarter of 2021 is the latest news

The Chinese economy’s disappointing growth of 4.9% in the third quarter of 2021 is the latest news

China’s GDP grew by 4.9% in Q3 2021, disappointing as industrial growth increased less than expected in September.

According to the National Bureau of Statistics, GDP grew by 4.9% in the third quarter and fell short of expectations of 5.2% growth, according to a Reuters poll.

Industrial production and retail

Industrial output rose 3.1% in September, lower than the 4.5% forecast by Reuters.

However, retail sales surpassed expectations, rising 4.4% in September from a year earlier, amid disappointment, amid expectations of a 3.3% rise.

Data from the National Office showed that investment in fixed assets in the first three quarters of the year was weaker than expected, up 7.3% from last year and 7.9%.

Unemployment rate

The urban unemployment rate in China was 4.9% in September. However, the unemployment rate for 16-24 year olds was very high at 14.6%.

Evergreen crisis

It is noteworthy that the crisis of Chinese real estate company Evergrande this quarter has eroded the sentiment of the economy because it has affected the performance of many lenders and real estate companies, but a few days ago China Play Bank stated that Evergrande is a special case and most real estate developers are Chinese and global business and financial Enjoy stability in an effort to reassure the community.

See also  Saudi budget surplus exceeds 2022 estimates