China’s economic growth picks up speed
Oct 18,2013 0 Comments
China’s economic growth picked up pace in the July-to-September period – the first rise in three quarters.
The world’s second-biggest economy grew 7.8%, from a year earlier, up from 7.5% expansion in the previous quarter.
Other data released also showed a growth in industrial output, retail sales and fixed asset investment.
After years of blistering growth, China has seen its pace of expansion slow recently and there have been fears that growth may slow further.
China has set a growth target of 7.5% for the year. Analysts said the latest numbers indicated that it was likely that Beijing would meet this.
“This is an indication that China’s economic growth is holding up in a range which is within the comfort zone of both the Chinese policymakers as well as global watchers,” said Song Seng Wun, a senior economist with CIMB Research .