China’s economy recovered and showed sound momentum in the 3Q, notably better than the 2Q. The production and demands continued to improve, and employment and prices were generally stable. The national economy was generally performing within an appropriate range, according to the National Bureau of Statistics of China.
According to preliminary estimates, the gross domestic product (GDP) in the first three quarters reached 87,026.9 billion yuan, up by 3% year-on-year at a constant price, or 0.5 percentage points faster than that in the first half year.
By industry, the value added of the primary industry was 5,477.9 billion yuan, up by 4.2% year-on-year; that of the secondary industry was 35,018.9 billion yuan, up by 3.9%; and that of the tertiary industry was 46,530.0 billion yuan, up by 2.3%.
By quarter, the GDP grew by 4.8% year-on-year in the 1Q, 0.4% in the 2Q, and 3.9% in the 3Q. The GDP in the 3Q was up by 3.9% quarter-on-quarter.
