China Economy Grows 4.9% as Rest of World Struggles With Coronavirus
S E E D E D C O N T E N T
BEIJING—China said its economy grew 4.9% in the third quarter from a year earlier, which was slower than expected, but it underscores the robustness of the recovery as its growth rate approaches that of last year—before the coronavirus pandemic leveled the global economy.
The result was lower than a 5.3% median forecast expected by economists polled by The Wall Street Journal, but higher than a 3.2% year-over-year expansion recorded in the second quarter after the gross domestic product contracted 6.8% in the first three months of 2020.
Compared with the second quarter, China’s gross domestic product rose 2.7% in the July-to-September period, slowing from an 11.5% quarter-to-quarter increase for the three months ended June 30, according to data released by the National Bureau of Statistics Monday.
In the first three quarters, Chinese economy grew 0.7% from a year earlier. China recorded growth of 6.1% for 2019.
Beijing broke with tradition and didn’t set a growth target for 2020 after its economy was ravaged by the coronavirus in the first quarter. Instead, leaders vowed to stabilize the job market and contain the virus this year.
China’s urban surveyed jobless rate dropped to 5.4% in September, lower than 5.6% in August and off a record high of 6.2% in February.
—Grace Zhu contributed to this article.
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Jonathan Cheng is the China bureau chief for The Wall Street Journal, overseeing the Journal's coverage of the world's second-largest economy across a range of areas including politics, economics, business, technology and society.
China also lies about its economy. It’s endemic to communist systems, local officials have to report good numbers to avoid punishment so they lie about the situation in this local regions. No one knows the real number.
You can keep believing your China-bashing opinons and nobody gives a damn. Here is just a little picture of what the AMERICAN Business Insider has to say.....
BUZZ NOTE : I saw news videos of the masses of people at train stations and airports - some wearing masks so they were up to date - a pretty good indication of the truth.
This is a fairly long article with lots of photos and video that you can read if you wish at:
https://www.msn.com/en-us/news/world/china-is-back-to-normal-—-the-us-and-europe-are-not-heres-how-it-succeeded/ar-BB1a8PfH
By the way Sean, this was written by Bill Bostock at Business Insider, not by a Chinese journalist, and it is not a Chinese medium, so don't bother to ciriticize me for posting it.
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Business insider is a reliable left wing publication. Somehow I think that the 3rd quarter GDP jump here in America will dwarf the size of Chinas jump.
I'm glad you think it's reliable. The Chinese third quarter growth percentage of 4.9% is a comparison with the 2019 third quarter. If you intend to compare, then post America's 2020 third quarter growth percentage with America's 2019 third quarter. I'm sure that America's growth in this last third quarter is a real jump from America's second quarter, but that's not the comparison.