China’s GDP Grows 3.9% in Third Quarter of 2022

Night skyline of Chengdu, capital of China’s Sichuan ProvinceBEIJING (Sputnik) – China’s GDP growth rate amounted to 3.9% in the third quarter of this year, while the gross domestic product increase for the first three quarters of 2022 amounted to 3%, according to data released by the country’s National Bureau of Statistics (NBS) on Monday.”China’s GDP in the first three quarters of 2022 amounted to 87.0269 trillion yuan [about $11.9 trillion], an annual increase of 3%. In the first quarter, the GDP grew 4.8% year on year, in the second quarter – 0.4%, in the third quarter – 3.9%,” the NBS report says.According to official estimates, China’s GDP growth rate is expected to amount to about 5.5% this year.Last year, despite the coronavirus pandemic and the energy crisis, China’s annual GDP growth rate was at 8.1 percent. Official estimates had forecast a GDP growth of over 6 percent in China in 2021.In 2020, China’s GDP growth slowed down to a record low of 2.3 percent, the lowest value in 40 years, amid the coronavirus pandemic.

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